DXY

DXY continued to trade with losses for the third day in a row yesterday, trading around 104,200 during Asian trading hours. The dollar faced difficulties due to the slightly tightening tone surrounding the Federal Reserve's (Fed) interest rate trajectory. Today will be perhaps the most important data of the month for DXY, the Nonfarm Payrolls Data. According to the FedWatch tool, it is currently pricing the probability of a rate cut by June, which is 70%, as approximately 65%. Technically, in the short term, the 200-Day Moving Average range of 104,080-103,850 stands out as a support zone. If this range is broken, the pullback to the 50-Day Moving Average level of 103,570 may continue. On the rise, the 100-Day Moving Average levels of 104,450-104,880 can be followed as resistance points. Support: 104,080-103,850 Resistance: 104,450-104,880