Watching DXY Around the 25.55 Mark - A Potential Reversal?
Been keeping a close eye on the $USDX this morning, specifically around the 25.55 level. It's interesting to see it holding relatively firm after that slight dip yesterday. On the daily, we’ve been consolidating for a bit, and this 25.55-25.56 zone, which aligns with some previous congestion, seems to be acting as a minor pivot.
My read is that if we can manage to close above 25.56 and hold it through the session, we could see a push higher towards 25.60-25.65. The risk that would invalidate this short-term idea, for me, is a clear break and sustained trade below 25.53. If that happens, especially with conviction, then the probability shifts to a retest of the lower range around 25.50 or even a bit lower. Just my thoughts, always open to seeing things differently.