Dollar Index DXY Bouncing off 50SMA

TVC:DXY   U.S. Dollar Index
The US Dollar Index, DXY, is bouncing off its 50SMA (red) on the daily chart. This looks like a sign of strength in the US Dollar as it seems folks are buying this dip and a successful bounce on 50SMA can take the price back to previous highs of 105 on the DXY.
Trade closed: target reached


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