Dollar Faces Key Support Ahead of Fed Meeting

The US Dollar Index (DXY) is trading near key support levels after pulling back from its recent high of 101.50.

Despite the pullback, the index has managed to remain above an ascending trendline extending from mid-July's low.

This suggests that the broader bullish trend has not yet lost momentum and is instead undergoing a healthy corrective phase following a strong rally.

The price's proximity to its moving average reinforces the significance of the current support area, which could encourage buyers to retest nearby resistance levels if held above 101.15.