Dollar Index

DXY Technical Analysis 11.10.2023

Dollar Currency Index (DXY) is currently trading at 105.780 level. Today there are multiple events that can affect the DXY. The most important events are Producer Price Index (PPI) MoM and the FOMC Meeting Minutes. The forecast for PPI (September) is expected to be 0.3%. These events are considered highly volatile for both the DXY and other risky assets such as indices and the crypto market. Analyzing the hourly chart of DXY, we can see a downtrend because of the Nonfarm Payrolls and Unemployment Rate that was announced last week. Currently the 105.660 support level is holding the DXY. Due to the results of the events, we will see if DXY holds the support level or not. If the result of the PPI will be higher than expected, we can expect to bullish moves in the DXY.  The first resistance will be the 105.880 level. If breakout occurs higher than the resistance, we can expect to see 106 levels again for the DXY.