DXY Bear Wedge Pattern

24 jun 2022

The DXY has continued its range in the low 104's. We are seeing good support from 104.00, but strong resistance from 104.53 and 104.83, confirmed by red triangles on the KRI. Lower highs seem to indicate we are forming a bear wedge pattern, with the lower bound at 104.00. If support does not hold, then watch the vacuum zone below to 103.24. If we catch a bid, then 104.53 and 104.83 are the next targets. After that, we have 105.25, which is the last level before highs at 105.78.