Crypto
US Dollar Index Bounces off Key Support Level
The US Dollar Index (USDX) is currently interacting with its 0.618 Support Arc within the current Arc Cycle, according to an analysis using Arc Cycle Analysis on the 2h chart.
This support arc has thus far been holding, indicating a potential bullish rebound toward the next Resistance Arc, specifically targeting 99.22.
The market bias is currently neutral-bullish, with the preferred scenario being a rebound toward the next Resistance Arc if the Support Arc continues to hold.
However, if the price sustains a close below 98.75, it would invalidate the bullish scenario and shift the outlook toward the next Support Arc, indicating a shift in market bias.