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Updated · continuumeconomics.com · Aug 11USD Index Holds 99.50-100.00 Range as Weekly Bearish Signals Cap Upside
1 articles · Updated · continuumeconomics.com · Aug 11Summary
- DXY traded little changed in a cautious 99.50-100.00 band, with intraday indicators allowing a modest drift higher toward resistance at 100.00.
- 100.35 is seen capping any rebound because weekly charts remain negative, pointing to renewed selling pressure after the current corrective phase.
- 99.50 is the key near-term support; a break below it would reinforce the bearish view and target 99.20, the 61.8% retracement of the April-June rally.
- 98.60 becomes the next downside objective if the index closes below 99.20, extending the late-June decline.
Insights
With heavy long positions crowded in the market, will a break below 99.50 trigger a catastrophic sell-off for the U.S. dollar? Could the AI capital boom and a hawkish Fed push the dollar past its critical resistance, or is a sudden crash imminent?