DXY, to continue its upward swing to 105.843
DXY is on its path to continue the upwards string since it broke out of its descending channel since 24th August, 2023. Price has continued its new ascending channel for the past 8 weeks.
Last week's fundamental on new unemployment claims strengthen the course of the dollar which is currently consolidating above the resistance trendline of the ascending channel.
The consolidation above the 104.643 support could build more buying power that can propel the movement up to 105.834 and potentially to 107.342 depending on the outcome of the fundamentals for the week.
Important fundamentals coming;
Wednesday : CPI
Thursday: PPI, retail sales and unemployment claims
Friday: Empire State Manufacturing Index and Prelim UoM Consumer Sentiment
Last week's fundamental on new unemployment claims strengthen the course of the dollar which is currently consolidating above the resistance trendline of the ascending channel.
The consolidation above the 104.643 support could build more buying power that can propel the movement up to 105.834 and potentially to 107.342 depending on the outcome of the fundamentals for the week.
Important fundamentals coming;
Wednesday : CPI
Thursday: PPI, retail sales and unemployment claims
Friday: Empire State Manufacturing Index and Prelim UoM Consumer Sentiment
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