Last updated 18.02.26

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The DXY is currently at a key support zone which is make or break for this index. 88.50 has been previous support / resistance and together with an uptrend line in place since 2011, this level is an area which will bring a lot of action.

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What is also interesting to note is that this level is the .618 Fibonacci retracement level from the 2014 low to the 2017 high.

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Looking at the daily we can see a downtrend line in place since the start of 2017 which has kept price in check. If we were to see the DXY move into bullish territory, a break of this trend line, the D200 & D50 EMAs and a move above the 2017 low of 91 will be required – so quite a bit of work ahead.