DXY and Tips; Levels, Ranges, Targets

From 102.00 and based on today’s rates, DXY is trading in a wide range from 108.53 and 108.75 to 102.61 and next range break at 101.38. The big break is located at 102.85 and reaches this destination by 102.08, 102.18, 102.23, 102.33 and 102.50. A break of 102.50 is needed to see 102.85.
Below 101.38, 101.24 and 101.16 are must breaks to see 101.07 and 100.94. Most important is range point at 101.38 because wide open land exists from 101.38 to 95.85 and 95.66.
A break at 102.85, targets next 104.40 and 108.53. Currently much land exists from 102.85 break therefore 102.85 is vital. Yet prices in this area will see adjustments as the FED won’t allow DXY to completely free float. The top of the channel today above 104.40 is located at 105.30.
In range terms indicators, DXY is fairly middle range which means any dramatic moves lower or higher won’t hold because overbought and oversold becomes concerns.
For today, 101.38 to 102.85 is a good range and represents decent Fair Value.
Tips Yields are running from 1 month at 0.032 to the 5 year at 1.47 and 10 year at 1.96.

 

Brian Twomey

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