- The index struggles to extend the rise and returns to the low zone of 103.00.
- Upside attempts should find the next hurdle around 104.00.
The US Dollar Index (DXY) loses some momentum and adds to rejection from monthly highs hit on Tuesday just before the 104.00 hurdle.
As long as it holds above the 3-month support line near 102.00, further upside seems likely, although the DXY needs to clear the February high at 103.96 (7 Feb) to allow the uptrend to continue to the high. of 2023 at 105.63 (January 6).
Longer-term, as long as it holds below the 200-day SMA at 106.45, the outlook for the index remains 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.
