The journey of DXY towards 103.851 seems to be slowing down. This can be observed from the price action, which indicates a stronger downward pressure on DXY compared to upward movement. The price is still oscillating between its moving averages and the support at 103.231. There's still a possibility of upward movement, but if there's fundamental pressure leading DXY to break below this support, it's likely that DXY will decline again. The market will likely move sideways as it searches for direction today.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.