From the Desk of Ian Culley @IanCulley
US dollar bulls are in control.
Fresh highs dot the US Dollar Index $DXY chart. Sellers are nowhere to be found.
The question is, when – or where – will buying pressure ease?
If I had to guess (which I do), I’d focus on 104.25:
A key retracement level and former resistance zone mark my spot.
Plus, price has respected that retracement over the past six months, adding to my conviction.
How long sellers will defend 104.25 – if price even reaches it – is anyone's guess.
I don’t have a Magic 8-Ball. (Wait, actually I do, and it says, “Ask again later.”)