DXY may pare the recent loss to decline later, 101.50 is a potential resistance
DXY responded lower to yesterday’s dovish hike of 25 bps from the Fed, as it hinted that it might be the last hike trying to calm markets amid the banking crisis aftermath and recession jitters. But a few hours later, a report from Bloomberg discussed concerns about PacWest bank triggering a risk-off sentiment that can support USD today alongside a technical barrier from a previous low. I expect DXY to consolidate some of its losses, and rallies will attract sellers.
Resistances: 101.50, 101.75
Supports: 101.00, 100.60
