The US Dollar Index Holds 96's

٧ يناير ٢٠٢٢

The DXY has continued to hold the range between 96.00 and 96.44, currently hovering just below our level at 96.24. We appear to be forming a bull flag pattern, but are otherwise consolidating which could suggest a breakout soon. If we break out, then we must definitively break 96.44 to consider another bull rally. There are several levels in the mid 96's to provide resistance after that, with 96.56 being the next target. If we retrace further then 95.82 is the next level down, with 95.58 as the min lower bound for now.