DXY Retraces

19 juli 2022

The US dollar has retraced further falling almost three handles from the 109's to the 106's. This technical retracement was due after the dollar's meteoric rally. We blasted through several handles, and came just shy of our final target at 109.86. We anticipate strong support at 106.13. If not, there is another level in proximity at 105.78. It is likely that from here we will equilibrate, perhaps around the 107's, at 107.20 in particular.