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Dollar Index (DXY) rebounds after holding support zone near 101.7

Action Forex said DXY’s correction ended at a 101.75 low and it has since started a rally from that area.

Reported · Written up by our desk · Major Pairs

Action Forex published a technical outlook for the U.S. Dollar Index, saying it completed a three-wave pullback and found support at an “Equal Legs” buying area.

The outlet set an ideal support zone at 101.92–101.63, adding that it views the move as bullish as long as price holds above that region.

Action Forex said the correction ended at the 101.75 low and that DXY has since begun rallying from the equal legs area, interpreting the reaction as confirmation that the buying zone was respected.

Latest closeDollar index 102.19 ▲0.3%

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