Dollar Index Triggers Bearish Scenario, Palladium and Copper Fight Back

The dollar index slipped to 100.76, triggering a bearish scenario flagged in prior sessions. Palladium reclaimed the 1248 level, and copper opened with a bullish gap in Asia. The moves match the setups Radomska had outlined. Yet the broader technical picture remains unresolved. Key barriers on both sides are still intact.

Dollar Index

The dollar finished at 100.76, pushing closer to the support zone built around the previous March highs. Radomska said the question is whether this is the start of a larger decline. The dollar is still trading inside its consolidation range. On the upside, 101.21 remains the first key resistance. A breakout above that level would put buyers back in control and reopen the path toward the next upside target discussed on June 25.

On the downside, the focus stays on the 100.36–100.53 zone, along with 100.32, the lower boundary of the orange consolidation. A daily close below that entire area would significantly strengthen the bearish case, Radomska said. The next downside cluster sits around 99.86–100.15, a level she discussed earlier in the month. A sustained break below 100.32 would weaken the dollar further, potentially lifting palladium and copper as the inverse relationship plays out.

Palladium and Copper

Palladium continues to stand out as one of the strongest metals on the watchlist. Buyers pushed the price back above the previously broken upper boundary of the consolidation at 1248. One important obstacle still stands in the way: the bearish gap from 1269 to 1281. Closing that gap would reactivate the bullish roadmap from the beginning of the month, targeting 1324–1363, with a measured move pointing toward roughly 1347. A potential test of the upper boundary of the red descending channel follows.

On the downside, the focus shifts back toward 1206, then 1180.

Copper answered back after a disappointing session. Today's Asian session opened with a small bullish gap at 610.75–611.60. Buyers reclaimed the orange consolidation while also closing yesterday's bearish gap at 617.75–622.60. Attention now shifts toward the upper boundary of the red descending channel, currently near 634.78. Radomska said that level is likely to determine whether this recovery has enough fuel to continue. A break above 634.78 would confirm the recovery and shift focus to the next resistance levels, likely the previous swing highs near 650.

Over the past two sessions, the market has started moving. The biggest technical decisions still haven't been made. Several bearish scenarios were triggered exactly as expected. Today's session showed buyers are beginning to fight back across some instruments. For now, neither side has delivered a decisive victory.

The next session will test whether buyers can hold above 1248 in palladium and push copper above 634.78. A close below 100.32 on the dollar would confirm the bearish case.