DXY is currently maintaining its position at the key resistance level of 104, demonstrating resilience at this significant whole number price point. Despite hitting this zone yesterday, we observe a relatively subdued level of market activity.
It appears that the markets are in a wait-and-see mode, anticipating a potential surge in trading volume driven by the release of crucial economic indicators, namely NFP, AE, and UE figures scheduled for tomorrow afternoon. Investors seem poised for a potential shift in market dynamics following the upcoming data release.
That being said, we are anticipating more downside.