DXY Outlook (7 September 2022)
The DXY traded lower to the 109.50 price level through the labour day bank holiday (6th September). However, the price found significant strength as it climbed strongly towards the 110.52 price level.
DXY is still within the upward channel, however as it approaches historic highs, the volatility and choppy price action is expected to be more significant.
While it looks like the price could climb towards the upper bound of the channel at 112.12, it is likely the DXY could climb briefly beyond the 110.52 level followed by a retest the 110 level again.
DXY is still within the upward channel, however as it approaches historic highs, the volatility and choppy price action is expected to be more significant.
While it looks like the price could climb towards the upper bound of the channel at 112.12, it is likely the DXY could climb briefly beyond the 110.52 level followed by a retest the 110 level again.
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