The US Greenback Index (DXY) trades close to 100.2 after retesting an ascending trendline that has supported it since Might 2011. A resistance zone at 100.5 nonetheless caps the restoration.
BeInCrypto examined the month-to-month, weekly, and day by day charts to map the subsequent probably transfer. The Federal Reserve (Fed) assembly on June 16-17 might determine the route.
US Greenback Index Defends a Trendline That Has Held Since 2011
The month-to-month chart exhibits an ascending trendline that has outlined the greenback’s long-term route since Might 2011. The road was nearly retested in June 2014 and confirmed once more in June 2021.
In February 2026, the index returned to this line as soon as extra. Up to now, the extent has held.
The broader construction additionally stays constructive. DXY has printed a sequence of upper lows and better highs over the previous 15 years, together with the 2022 peak close to 115.
If the trendline holds, the present retest could grow to be the subsequent increased low. A repeat of earlier cycles might then push the index above 115.
Greenback power issues for crypto buyers due to Bitcoin’s (BTC) long-running inverse correlation with DXY. Nevertheless, the month-to-month relative power index (RSI) stays impartial and alerts no clear momentum.
Weekly Chart Nonetheless Treats the Restoration as a Correction
The weekly timeframe complicates the bullish image. DXY climbed in a parabolic run from December 2020 till September 2022, peaking at 114.80. The breakdown from that parabola began a protracted distribution interval and a downtrend.
Inside that downtrend, the index printed a swing excessive close to 110.18 in early 2025. The decline that adopted bottomed at 95.55.
From this attitude, the continuing restoration seems to be like a correction somewhat than a brand new uptrend. The important thing space sits close to 99.5 to 100, the place former help has became resistance.
A weekly shut above this zone would validate the bullish breakout state of affairs. A rejection, in distinction, would probably resume the slide again to 95.55. In the meantime, the weekly RSI reads 57, which signifies impartial momentum.
DXY Worth Prediction Hinges on the 100.5 Resistance Zone
The day by day chart gives probably the most detailed view of the battle. A help space close to 97.5 has been retested twice, forming a double backside or W sample.
The measured goal of this formation sits at 101.07, almost 1% above the present value. Nevertheless, the sample stays unconfirmed. Resistance at 100.4 to 100.5 nonetheless caps the index, and DXY was rejected from this zone twice in March.
A second construction provides a bearish angle. Latest value motion has fashioned an ascending wedge, a sample that sometimes resolves downward. Its goal lies close to 98.5, roughly 1.7% under present ranges. That focus on coincides with the 0.618 Fibonacci retracement at 98.547.
The day by day RSI stands at 67 and approaches the overbought threshold of 70. As a result of the wedge’s higher band overlaps the resistance zone, a rejection on the primary try seems to be probably.
Analysts have not too long ago known as DXY probably the most correct macro indicator for Bitcoin’s route, so crypto merchants ought to watch these ranges carefully.
The Fed’s June 16-17 assembly is the closest catalyst, with markets nonetheless pricing a doable charge hike in December. A day by day shut above 100.5 would open the trail to 101.07 and revive the long-term rebound thesis, whereas a wedge breakdown would expose 98.5 first.
The put up Is the US Greenback Index (DXY) Headed Greater After a 15-Yr Trendline Retest? appeared first on BeInCrypto.