DXY Holding the Range
The US dollar has rallied a bit, with the DXY crossing the range to test 102.86 again. We have highlighted this level as auspicious and a likely target and area of resistance. In fact, we predicted that the DXY would establish value in the area between 101.70 and 102.86. This appears to be what we are seeing as the DXY takes a breather from the epic rally that took us to 104 just a few weeks back. We anticipate the range to hold but if not, 101.39, and 100.98 are the next targets below 101.70.
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