❗ DXY tends to start slow then the direction is data and sentime

https://xforexnews.com/The status quo for DXY is best described as quoted from this morning's Reuters article: “A slew of data out of the world's largest economy in recent weeks pointing to a still-tight labour market, sticky inflation, robust retail sales, and higher producer prices, have raised expectations that the U.S. central bank has more to do in taming inflation, and that interest rates would have to go higher.”
The terminal rate has been pushed further to the June meeting after earlier this year it was only March. Some Fed hawks are talking about an upcoming 50 bps hike, namely Bullard and Mester. Last Friday, Bowman and Barkin suggested only 25bps. That's why markets turned around late Friday.
This week's main events to watch are PMI data, FOMC minutes, GDP, and PCE
US10Y is facing resistance at 3.9% which is important to break to the upside for DXY to continue higher. DXY is showing divergence on 4H RSI. US500 is rejecting the Feb. low.
My bias for the day is neutral as the US is on holiday today and some downside correction is possible. For the rest of the week, data will drive its course. So, keep tuned.
Resistances: 104.60, 105.50.
Supports: 103.60, 103.30.DXY