110 is a big resistance for DXY. It could slide to 96. The dollar is in a perfect upward trend, backed by souring war sentiments and inflation fears. Now there are looming recession fears, which could stop the Federal Reserve from hiking rates aggressively. The European Central Bank has said it is open to increasing interest rates. EURUSD buyers will get some support due to this.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.