- DXY clinches fresh monthly highs near 103.80 on Wednesday.
- Further buying pressure could challenges the 104.00 zone.
DXY advances to fresh highs in the 103.75/80 band before losing some momentum on Wednesday.
In case bulls regain the upper hand, the next up-barrier emerges at the 104.00 hurdle prior to the key 200-day SMA, today at 105.73, and the 2023 peak of 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