As we noted on our website DXY review todayToday’s trading day began with the beginning of the dollar. It is growing today against all major currencies, including raw materials, such as the New Zealand, Australian and Canadian dollars.
DXY futures also opened today’s trading day with a small gap to the upside after uncertain growth in the previous three trading days. At the time of this article’s publication, DXY futures were trading at 107.74, up 79 points from today’s open and 88 points from last Friday’s close.
Today’s economic calendar is not rich in the publication of important macro statistics for the United States, and the entire trading week in the United States will be shorter than usual: on Thursday, November 24, banks and stock exchanges in this country will be closed on the occasion of Thanksgiving. This day marks the beginning of the holiday season. It includes Christmas and continues until the New Year. November 25 is an abbreviated labor day in the United States as part of the continuation of Thanksgiving celebrations.
From a technical point of view, for quieter buying operations, it is better to wait for the USD/CAD pair to rise to the area above the resistance levels 1.3450, 1.3488.
Sales can resume after the collapse of the important short-term support 1.3376, with targets at the support levels 1.3200 & 1.3100.
*) For upcoming events for this week, see The most important economic events during the week 11/21/2022 – 27/11/2022
Support levels: 1.3376, 1.3300, 1.3200, 1.3100
Resistance levels: 1.3450, 1.3488, 1.3500, 1.3570, 1.3600, 1.3640, 1.3685