The U.S. dollar, as measured by the DXY index, lost ground over the past five trading sessions, marking the end of a three-week winning streak that had propelled prices to 5-month highs by Tuesday. When all was said and done, the DXY retreated 0.24% to settle at 104.28, with theDespite this subdued performance, the greenback should not be written off just yet, as it may be able to restart its advance and regain momentum soon, especially if the March U.S.
Access our Q2 trading forecast to get a detailed analysis of the U.S. dollar's medium-term outlook. Download it for free today & don't miss out on key strategies!Fed Dallas President Lorie Logan also seemed to have embraced a more aggressive posture, emphasizing that it's too early to consider easing measures.
Alternatively, should sellers regain control and drive prices below the key moving averages mentioned earlier, a retreat towards 1.0840 might ensue. Bulls must vigorously defend this technical floor; a failure to do so might exacerbate negative sentiment towards the euro, potentially triggering a drop towards the 1.0700 handle. Below this area, attention should gravitate towards 1.0625.USD/JPY has exhibited range-bound behavior over the past two weeks, oscillating between resistance near 152.