Chart of the Day – DXY – (July 12th, 2023)

<div><p><div><h2 itemprop="headline">Following weak CPI, the DXY breaks support. </h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The DXY is breaking lower following the weaker than expected CPI data today, and while below the 101.00 level we have to be looking for a move towards the 99.75 level. RSI is reaching oversold, but pointing lower. A move back above the 101.00 level by the end of the week would suggest a false breakdown and recovery higher.</p>
<p><img decoding="async" class="alignnone size-full wp-image-10578" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/DXY_2023-07-12_10-49-53.png" alt="" width="1502" height="845" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/DXY_2023-07-12_10-49-53.png 1502w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/DXY_2023-07-12_10-49-53-400×225.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/DXY_2023-07-12_10-49-53-800×450.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/DXY_2023-07-12_10-49-53-768×432.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/DXY_2023-07-12_10-49-53-1500×844.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/DXY_2023-07-12_10-49-53-705×397.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/07/DXY_2023-07-12_10-49-53-450×253.png 450w" sizes="(max-width: 1502px) 100vw, 1502px" /></p>
<p>Blake Morrow</p>
<p>Our <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Steve Voulgaridis</p>
</div></section></p>
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