DXY- Approaching sell zone. New leg down is possible

٧ أكتوبر ٢٠٢٢

After the high above 114 back on 28 Sept, DXY corrected strongly, falling around 4% in a very short period.
Starting with Monday's low, the index has started to rise again and now is trading back above 112.
In my opinion, this is not a resumption of the long-term up trend, but just a rebound after the strong selloff.
112.80-113.20 zone should provide resistance before the new leg down and here we should look for selling USD opportunities.
The target can be the recent 110 zone low