US Dollar Index (DXY): Significant Bearish Outlook 💵 🇺🇸
After reaching a peak of 106.50 on a short-term chart, DXY traded within a broad horizontal range on a 4-hour timeframe for an extended period.
However, the lower boundary of this range was breached during last week's trading session.
The support level is now being retested, and we anticipate a downward movement in response to this break.
We could see a bearish trend continuing towards levels of 105.18 and 104.90.
However, the lower boundary of this range was breached during last week's trading session.
The support level is now being retested, and we anticipate a downward movement in response to this break.
We could see a bearish trend continuing towards levels of 105.18 and 104.90.
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