DXY regains equilibrium and discards Wednesday’s retracement.

The index is testing the region of monthly peaks around the 104.00 level once more, and a strong break through this area should pave the way for a potential trip to the May top of 104.69 (May 31), which would come before the 2023 peak of 105.88 (March 8).

While above the important 200-day SMA, which is currently at 103.13, the index’s outlook is anticipated to change for the better.

In the bigger picture, the view for the index should change to a more positive one if there is a strong breakout of the 200-day SMA.

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