The DXY US Dollar Index, which measures the strength of the dollar against a basket of major currencies, has drawn an inverted shoulder-head-shoulder pattern on the daily chart.
The resistance of the pattern is currently at 90.92. A close above this level would confirm the breakout or an uptrend reversal, creating room for a rally towards at least the 92.63 level (target based on the pattern).
On the downside, the right shoulder low at 90.04 is the level to beat for sellers.
At the time of writing, the DXY Dollar Index is trading slightly higher on the day near the 90.80 level.
US Dollar Index DXY Daily Chart
US dollar DXY index technical levels
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