The DXY Finds Support at our Exact Level!!

24 May 2022

The DXY has tumbled through the vacuum zone from 102.86 to support at our exact level at 101.70. We called this out to the tick in yesterday's report. We should see good support here, and this appears to be the case as confirmed by a green triangle on the KRI. We still feel that the DXY is in bull mode, but we were due for a nice technical correction, as ranging near highs was starting to look ominous. If we do find support here, we have a wide vacuum zone to traverse before the next target at 102.86. If support fails, 101.39 and 100.98 should provide further support.