We've been considering DXY strength across setups on the AUDUSD, NZDUSD, GBPUSD.
But what if the DXY does not strengthen, but instead, reverses lower?
Moves to the downside on the EURUSD have been held twice at the 1.0660 price level, which coincides with the 38.2% fib retracement level from the longer term.
If this support level continues to hold strong, this could be a good base for the EURUSD to bounce off and trade higher (especially if the DXY weakens)
But what if the DXY does not strengthen, but instead, reverses lower?
Moves to the downside on the EURUSD have been held twice at the 1.0660 price level, which coincides with the 38.2% fib retracement level from the longer term.
If this support level continues to hold strong, this could be a good base for the EURUSD to bounce off and trade higher (especially if the DXY weakens)
