USD increased strongly, what is the direction for DXY
The USD is continuing to trade strongly and positively. A surge in US Treasury interest has facilitated higher DXY supply in the last two months. Meanwhile, market expectations that interest rates in the US will continue to remain high for a long time also supported the benefits of Treasury bonds. Overall, the recent appreciation of the USD and treasury bond yields is likely to continue, unless any new negative factors appear in the market.
Contrary to the market's prediction, the DXY index increased to surpass the threshold of 106. Although it decreased in the weekend trading session, the index rebounded to a low of 105.66 and stopped trading for the week. above 106. The current support level for the USD may be at lights 105 and 104. There is a high possibility that the DXY number will rise to 108 in the short term.
On the contrary, if this index falls below 104, the shorting trend will decrease. However, that is less likely to happen.
Contrary to the market's prediction, the DXY index increased to surpass the threshold of 106. Although it decreased in the weekend trading session, the index rebounded to a low of 105.66 and stopped trading for the week. above 106. The current support level for the USD may be at lights 105 and 104. There is a high possibility that the DXY number will rise to 108 in the short term.
On the contrary, if this index falls below 104, the shorting trend will decrease. However, that is less likely to happen.
