A quick snapshot of the live DXY chart.
The bounce halted at the first resistance level, defined as the March low. It has now flagged down to key short-term support. From here it looks like it will either resume its counter-trend rally (RSI looks primed for that after pulling back to its EMA 20) or fail. If it bounces anew the objective would be the 96 area. If it fails, the objective would be Palookaville (to my global friends, it’s an American thing, roughly meaning oblivion).
Since USD has been the anti-market to many of the global reflation trades it’s an important juncture for the wider macro.
