DXY uptrend support bounce
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DXY is testing the strong upside confluence support 105-105.50 zone. This is coming after the strong pullback from 112. It is also near the middle of the uptrend channel and a previously broken strong resistance. A break above 106 again would lead to an upside continuation into the channel top 114-116 zone.
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The weekly chart reveals an uptrend support line touch and a possible bull flag formation. End of the week bounce is giving this uptrend continuation legs. Now only a confirmed break below 104 could lead to a deeper pullback if 102 also gives up.
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