The DXY Retraces!!

5 мая 2022 г.

The US dollar has fallen off the FOMC report yesterday. Despite the 0.5% rate hike, the dollar fell as this was largely priced in already. We collapsed through support at 102.86, but found support at 102.33 or so. We are feeling out the vacuum zone between 102.86 and 101.70, which is fairly wide, so we could potentially form some new technical levels here. It might be difficult for the DXY to break 102.86 again, but if we do, then we must break highs around 104.00 before we can consider our next target at 104.53. We should see support at 101.70 and this should be considered a floor price for now.