- The DXY turns 180 degrees after three consecutive daily falls.
- If it continues to rise, its target will be the monthly highs near 104.50.
the dxy ends a three-session losing streak and manages to regain composure and retest the 103.50/60 band on Thursday.
Once the recovery gathers steam, the index should target another visit to the monthly high of 104.44 (August 25) just before the May high of 104.69 (May 31). A break of this level could trigger a probable test of the 2023 high at 105.88 (March 8) to reappear on the horizon.
As long as it holds above the key 200-day SMA, the outlook for the index 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.
