Dollar Index (DXY): Bearish Outlook Explained💲

8 Apr 2023

Dollar Index is trading in a minor bearish trend on a daily.
The market is steadily falling within a falling parallel channel.

The market is currently approaching a very important confluence point based on a resistance of the channel
and a broken horizontal resistance.

I believe that chances will be high to see a bearish move from the underlined zone to 101.0 level.

Alternatively, remember that a bullish breakout of the resistance of the channel will initiate a correctional movement on the index.

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