US Dollar Finding Support at Lower Levels

17 de dez. de 2021

The US dollar has sold off as central bank news has deliquesced into the markets. We gave up hopes for 97, and receded from the 96 handle. We found good support at 95.82, which is the level we have identified every report for weeks as a min lower bound. The DXY seems to be finding good support from here, with two attempts at this level catching a bounce with some momentum. Watch out, because there is a vacuum zone down to 95.26. It does appear that we are trying to establish value between 95.82 and 96.24, but again, watch that vacuum zone if these values will not sustain. From the upside, there is a cluster of levels in the 96 handle that should act as a barrier to 97 for now.