DXY at Key Support: Trend Reversal or Continuation?
DXY at Key Support: Trend Reversal or Continuation?
The DXY is testing a key confluence zone at 106.35, where the descending wedge trendline support aligns with the 38.2% Fibonacci retracement of the last bullish leg. This level is pivotal in shaping the next trend direction.
For now, as long as 106.35 holds, the broader uptrend remains intact. A confirmed break lower would shift the outlook bearish, but until then, the prior bullish trend remains the dominant force.
On the upside, resistance stands at 108, the next key level to watch for potential continuation higher.
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