- The DXY reaches fresh monthly all-time highs near 103.80 on Wednesday.
- Further buying pressure could challenge the 104.00 area.
He DXY it reaches new highs in the 103.75/80 zone before losing some momentum on Wednesday.
Should the bulls regain control, the next upside barrier lies at 104.00, ahead of the 200-day SMA at 105.73 today, and the 2023 high at 105.88 (March 8).
On a bigger picture, as long as it stays below the 200-day SMA, the outlook for the index will remain negative.
DXY daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
