The DXY made the death cross on the 1D chart, aka the 50 and 100 day moving averages crossed to the down side. This is happening with the price touching the moving average support on the 1W chart as well. In the past when this has happened in conjunction with a higher MACD reading the price goes into a considerable bear market. If so the first real support level is about 91, then 87 and 84 with the possibility of 84 very high if 90.50 – 90.0 breaks down.
If The FED can piece together a bunch of news it could be saved, but for now the momentum of the market has to be respected. Buy breakouts, but shorting at resistances should be an even stronger play.
Chart is powered by the SCMR Trends Analysis Suite on Tradingview.com