DXY (Dollar Index): Important Decision Ahead
Many dollar pairs are standing on key levels today.
With a coming CPI report, the market participants
are waiting for the trigger to either push the greenback higher
or to finally start shorting it.
DXY is testing a historical resistance at the moment.
Bearish movement will initiate only after a bearish breakout of a rising channel on 1H.
That will be a decent confirmation.
For bullish scenario, consider a daily candle close above the underlined daily resistance
as the confirmation for a further bullish continuation.