DOLLAR INDEX (DXY) Technical Outlook 💵

Nov 18, 2022

Quick update for Dollar Index.
Even though the market is trading in a global bullish trend,
from the end of September, we see a correctional movement.

The price broke and closed below an important horizontal demand cluster.
Now the broken structure turned into resistance.

I remain bearish biased and assume that the next goal for sellers is 104.65 - 105.05 support.
It is the closest strong structure.

Alternatively, a bullish breakout of the underlined resistance may trigger a bullish wave.

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