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There is a tough barrier around 106.00

November 10, 2023| Forex Market


–  DXY trades in a vacillating fashion just below 106.00.

–  The surpass of 106.00 should refocus the attention to 107.00.

DXY trades within a narrow range near the 106.00 region at the end of the week.

In case the buying interest gathers extra pace, the index is expected to challenge the 106.00 barrier. Once cleared, it could open the door to a rapid visit to the November top at 107.11 (November 1) prior to the 2023 peak of 107.34 (October 3).

In the meantime, while above the key 200-day SMA, today at 103.59, the outlook for the index is expected to remain constructive.

DXY daily chart


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