DXY

The Dollar Index rose to around 103.450 yesterday with the US Retail Sales data surprising to the downside, PPI being announced above expectations in both headline and core figures, and Initial Jobless Claims in the US decreasing by 1,000 per week. Yesterday's Data Will Reduce Expectations That the Federal Reserve (Fed) Will Cut Interest Rates at the Market's Expected June Policy Meeting. Technically, for the DXY, which started the day around 103.220, the 200-Day Moving Average range of 103.110 - 102.840 stands out as a support zone in the short term. If this range is dropped, the 50-Day Moving Average may continue to retreat to 102.470. In increases, the 100-Day Moving Average levels of 103.560 and 103.880 can be followed as resistance points. Support: 103,110-102,840 Resistance: 103,560-103,880