US Dollar Attempting Breakout
DXY is attempting a breakout of the March downtrend with a potential upslope identified here off the lows.
The weekly opening-range is set just above weekly open support at 101.58. Look for the breakout into the close of the week.
A topside breach of the median-line would expose the 2016 high-close / 2020 highs into the 103-handle.
A break below the lower parallel would threaten resumption towards the yearly / February lows at 100.82.
Michael Boutros, Sr Technical Strategist with FOREX.com
MBForex
The weekly opening-range is set just above weekly open support at 101.58. Look for the breakout into the close of the week.
A topside breach of the median-line would expose the 2016 high-close / 2020 highs into the 103-handle.
A break below the lower parallel would threaten resumption towards the yearly / February lows at 100.82.
Michael Boutros, Sr Technical Strategist with FOREX.com
MBForex
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