- DXY’s strong upside meets resistance near 103.60 on Friday.
- The key 200-day SMA emerges as the next hurdle near 105.80.
The solid weekly performance of DXY seems to have encountered a firm obstacle around multi-week highs near 103.60 so far on Friday.
Further upside seems like the most probable scenario for the index so far. Against that, a convincing move past 103.60 could pave the way for a potential challenge of the key 200-day SMA, today at 105.78 just ahead of the 2023 peak at 105.88 (March 8).
Looking at the broader picture, while below the 200-day SMA the outlook for the index is expected to remain negative.
DXY daily chart
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