Yesterday the US 10yr Treasury Yield (1.6350 closing price) has resumed its recent upward trend and neither the stock market nor the fx market has shown much interest. The Dollar got a hit but did not lose too much ground. No important level has been broken. Nonetheless Dollar Index Spot closed clearly below 94 again (93.869 now) and EURUSD ended the trading session clearly above the 1.1600 handle but below the 1.1640/50 resistance.
It is quite likely that the market tries to push the Dollar another leg lower in the next sessions but sooner or later the market can not ignore rising US Rates with a prospect of a test of the high of the year at 1.7650 (30mar21). The question is if the market can ignore rate differentials long enough to increase the pressure on Dollar to break through the important DXY support at 93.35 or EURUSD resistances 1.1650 and 1.1698 (50 daily ema) finally. At this time it is probably too early to short Dollar.
Good luck,
Sebbo