DXY Rally Approaches Weekly Resistance Hurdle
The Dollar index has rallied nearly 6.5% from the yearly lows with the advance approaching confluence resistance at 94.14/27. Although broader outlook remains constructive, the near-term technical picture suggests price may be vulnerable heading into this key zone. Accordingly, our focus has remained on the majors and we’re looking for possible exhaustion this week.
Key Levels in Focus
GBPUSD – Risk is lower sub-1.35(resistance). Next beg support target at 1.33
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UK data will highlight this week’s event risk with commentary from Bank of England (BoE) officials, the Consumer Price Index (CPI) and GDP figures on tap. In this webinar we review updated technical setups on DXY, EUR/USD, AUD/USD, GBP/USD, AUD/NZD, AUD/JPY, Gold, Crude Oil, USD/JPY, EUR/NZD, TNX (US 10Year), Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD) and Litecoin (LTC/USD).