DXY Key Levels To Watch

As you see in the 1H chart, we have a downtrend and price is in the descending parallel channel.

There is a resistance level around 90.25 - 90.3 which has been tested by price for several times.

MACD positive bars are getting smaller and weaker which means there would be more downside pressure.

Currently, price is at the upper band of the channel and is bouncing on the dynamic support level (the red line).

IF the dynamic level broken out to the downside, we can expect a fall in price to the support levels around 89.8

Otherwise, we should be aware of the upside breakout on the channel’s upper band. If price breaks the resistance level at 90.25 and closes candle above, we can expect a rise to 90.6

I’m on the bearish side, what about you?