The Greenback cannot bank on the risk of flight from Monday. Fed’s Logan and Jefferson delivered a message that the Fed is done hiking. The US Dollar Index breaks below106 but faces selling pressure. ituation in Israel and Gaza.
96, with the Relative Strength Index easing down further after the DXY snapped its weekly winning streak last Friday. On the topside, 107.19 is important to see if the DXY can get a daily close above that level. If this is the case, 109.30 is the next level to watch. On the downside, the recent resistance at 105.88 should be seen as first support. Still, this barrier has just been broken to the upside, so it isn’t likely to be strong. Instead, look for 105.12 to keep the DXY above 105.00.
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