DXY Weekly Forecast | 29th May 2023

TVC:DXY   U.S. Dollar Index
Fundamental Backdrop
  • The CB Consumer Confidence, JOLTS Job Openings, Non-Farm Employment Change are expected to drop.
  • The Unemployment Rate is also expected to increase.
  • These news events will cause the DXY to weaken.

Technical Confluences
  • Near-term resistance level at 104.800
  • Near-term support level at 103.800
  • Next support at 103.200

On the Daily chart, could see price retest the 103.800 support level. A break below that support could see price continue heading towards the next support level at 103.200.

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