The US Dollar Continues to Rally
The US dollar has shown great strength from multiple underlying factors, including an increasingly Hawkish Fed and soaring inflation. We have smashed through the 96 handle and established footing in the 97's. The DXY is currently testing 97.32, breaking above it just barely. Several red triangles on the KRI are indicating resistance here. Also, the price action is 'rounding off' suggesting a correction is near. If that is the case, then we anticipate support at 97.03. After that, there is a vacuum zone to 96.65. If we can break out past the resistance then 97.62 is the next target.
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