US Dollar Index (DXY): Significant Bearish Outlook 💵 🇺🇸

After reaching a peak of 106.50 on a short-term chart, DXY traded within a broad horizontal range on a 4-hour timeframe for an extended period.

However, the lower boundary of this range was breached during last week's trading session.

The support level is now being retested, and we anticipate a downward movement in response to this break.

We could see a bearish trend continuing towards levels of 105.18 and 104.90.