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U.S. Dollar Index

DXY Consolidates Sideways

72
DXY continues to consolidate and be held between a Resistance and Support Between:

Resistance @ 98.2 - 98.3
Support @ 97.75 - 97.6

If DXY breaks the Local Resistance, this will see the USD gain strength temporarily til the Next Resistance Level @ 98.5 - 98.95

If DXY breaks the Local Support, this will see the USD lose strength temporarily til the Next Support Level @ 97.3 - 97.1

Fundamentally, Tariffs will continue to effect the underlying inflation issue USD deals with along with expectations gaining of not only 1 but a few Interest Cuts could come from the Federal Reserve before the end of the year! This could severely weaken USD!
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breakoutandretestconsolidationDXYfalsebreakoutfedForexFundamental AnalysisinterestratecutstariffsTrend AnalysisUSD
Novi_Fibonacci
Mod
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Also on:

Disclaimer

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.