Dollar Strength Unwinds

2 Agu 2022

The DXY continues to edge down. We broke through to 105.25, before a pivot took us back up to the 105.50's. The next level and target is 105.78, if momentum can sustain. We are seeing a red triangle on the KRI confirming the resistance. It is clear that the dollar is still in a corrective phase, unwinding the strength we saw at the beginning of July, which brought us up to the 109's.