*#DXY Technical Update:*
The US Dollar Index ($DXY) is currently trading around 105.45, with significant technical levels in sight. We observe a key resistance zone near 105.55 and a crucial breakout point at 106.70. A successful break above 106.70 could indicate further bullish momentum, potentially leading to a move towards 107.00 and higher.
Conversely, the key support level to watch is 105.00. A drop below this level could signal a bearish reversal, with the next support zone around 103.50.
### Impact on the Crypto Market:
A stronger $DXY typically exerts downward pressure on the crypto market due to the inverse relationship. Should $DXY break above 106.70 and maintain its upward trajectory, we may see increased selling pressure in cryptocurrencies. Conversely, a decline below 105.00 could provide some relief to crypto assets.
### Key Levels to Watch:
- **Resistance:** 105.55, 106.70
- **Support:** 105.00, 103.50
#Forex #Crypto #TradingAnalysis
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