Since the low of DXY in December 2020 at about 89.9, this symbol has been trending upward in a wave fashion. Price have formed major waves with subwaves in an increasingly upward trend. At the moment, price has been retracing with a corrective abcde formation. The correction is currently approaching 0.786 fib (104.07) which is also the support of June 2022. Taking the wicks of the June 2022 into consideration, the support is around 103.70 (I have indicated with the yellow horizontal line). Further, the 50 weekly SMA also coincide with the yellow line adding to the strength of the ensuing support. With this, I expect the 0.786 fib, the yellow line, and the 50 weekly SMA to form a confluence of support zone which is likely to hold for another leg up for the DXY.