Those who’ve been long the US dollar index (DXY) since the middle of last year have done well for themselves. The DXY has gained c. 12% from its January 2021 swing low of 89.21 to trade close to 99.75 at the time of writing. Making similar gains from current levels will undoubtedly prove more challenging. Traders should be factoring this into their risk-reward assessments going forward for several reasons.
First and foremost, as the DXY moves higher it’s likely to meet fierce resistance between the 100-103 range. In March 2020, dollar sellers were …
Full story available on Benzinga.com
