FED is likely to hike interest rate twice this year and then pause. it's difficult to expect a pivot this year as inflation will reduce but stay elevated. The war in Europe elevates risk for the EURO and as the banking crisis has passed by and funds will be flow back to the US$. I expect the rest of 2023 to be choppy (Sideways between 100.5 - 105.0 zone.
Techincals
DXY$ is approaching a buy-zone which acted as support a couple of times. Despite the trend being currently bearish, the Macro stage has set stage for a reversal. Longs could be taken once this reversal is confirmed by a CHoCH. Its also trading at high time-frame 0.5 Fibonacci area.
Analysis Invalidation
If DXY breaches crucial 100 zone the above analysis becomes invalid.
From mod @zAngus