- DXY is now under some bearish pressure near 106.50
- Occasional bullish attempts should find the next hurdle near 107.00.
He DXY sees its recent bullish momentum somewhat curtailed and revisits the 106.00 area by the end of the week.
If the US Dollar Index (DXY) breaks above the weekly high of 106.89 (Oct 26), it could head towards the round level of 107.00 before the 2023 high of 107.34 (Oct 3).
For now, as long as it remains above the key 200-day SMA, today at 103.39, 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.
