Three rally days sent USDollar once moves above SMA200
DXY now stops at SMA50, also the resistance 96.30
Look at on the chart, price is divided into two clear reaction zones:
- Blue zone: Trading above 96.30
- Red zone: Trading below 96.30
USDollar needs to provide more fuel to continue its rally.
Tomorrow, the main focus is US Durable Good Orders : This is the source of fuel to USDollar.
- Positive data would send DXY higher.
- Negative data would beat DXY to correct from this level.
Producer Price index data released in the beginning of month showed a strong positive number , so I think the data likely is positive.
DXY now stops at SMA50, also the resistance 96.30
Look at on the chart, price is divided into two clear reaction zones:
- Blue zone: Trading above 96.30
- Red zone: Trading below 96.30
USDollar needs to provide more fuel to continue its rally.
Tomorrow, the main focus is US Durable Good Orders : This is the source of fuel to USDollar.
- Positive data would send DXY higher.
- Negative data would beat DXY to correct from this level.
Producer Price index data released in the beginning of month showed a strong positive number , so I think the data likely is positive.
