The US Dollar Index (DXY) is at a critical juncture as it hovers near 97.00, with traders waiting for the February 18th Fed minutes release. The January FOMC meeting saw a 10-2 vote on interest rates, with dissent from Governors Waller and Miran. Powell upgraded the economic tone to “solid” at the last press conference. Traders are eyeing three scenarios after the minutes release: a bullish breakout above 97.00, a bearish breakdown below 96.40, or a neutral consolidation between 96.80 and 97.50. The DXY is on the verge of a potential shift, with key support and resistance levels to watch.

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