Forex
Dollar Recovery Nears Resistance
The US Dollar Index (DXY) has been trading within an ascending channel formation since May. The recent recovery is approaching resistance at 101.59, with key resistance eyed just higher at 101.77/92.
A breach or daily close above this threshold would mark the resumption of the May uptrend toward the next major technical consideration at 102.72.
On the other hand, a break or daily close below the 2024 low/August high at 100.16 would be needed for the bears to reassert control.