Blake Morrow’s Chart of The Day – Forecast DXY
Forecast DXY
Following the FOMC this week the US Dollar is poised for higher levels while the index trades above the 96.92 level. The next resistance is the 127% extension of the November 2021-January 2022 range at 97.52. beyond that the previous highs from June 2020 come into view at 97.85. We must note at this point, if the DXY hits a high soon and turns lower, the RSI may be divergent and suggest a broader a longer-term pullback.
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