The US Dollar Finds Support At Our Level 😎
The DXY has fallen to support at our level at 97.73, to the tick. It started to look as though the dollar would break this level due to increased confidence in a Ukraine ceasefire. However, we saw a double bottom form, confirmed by two green triangles on the KRI, followed by a nice reversal which is currently testing 98.22. We are seeing resisatance here confirmed by a red triangle on the KRI. If momentum continues, then we could see the broad range contine with 98.82 the next target. A full retracement of the range would take us to 99.40. If things turn south must break 97.73 before considering lower levels. There is a dense patch of levels below to provide support including 97.62, 97.47, and 97.32.
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