A few days ago I've pointed out the 113 zone as a strong resistance and potential point of reversal for DXY.
The market's reaction after CPI data yesterday could offer exactly this: a confirmation for reversal.
Although on data release DXY has spiked above this important level, a very strong reversal followed, leaving a long-tailed candle on our chart, and, now, there is a high probability of a lower high in place.
With this in mind, we can search for buying opportunities for EurUsd, GbpUsd, AudUsd, and NzdUsd.
DXY first important support is under 110
The market's reaction after CPI data yesterday could offer exactly this: a confirmation for reversal.
Although on data release DXY has spiked above this important level, a very strong reversal followed, leaving a long-tailed candle on our chart, and, now, there is a high probability of a lower high in place.
With this in mind, we can search for buying opportunities for EurUsd, GbpUsd, AudUsd, and NzdUsd.
DXY first important support is under 110
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