- The DXY gains strength above the 106.00 point barrier.
- If it advances further, it could revisit the 106.80 area.
He DXY extends weekly recovery to 106.50, or multi-day highs, on Wednesday.
It seems that the index is still trading within a consolidation phase for the moment. The continuation of the uptrend, meanwhile, continues to target the weekly high of 106.78 (Oct 12) ahead of the 2023 high of 107.34 (Oct 3).
For now, as long as it remains above the key 200-day SMA, today at 103.34, the outlook for the DXY is expected to remain constructive.
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.
