Dollar Index Holds Firm Amid Geopolitical Tensions
The US Dollar Index (DXY) continues to hold above 101.00, reinforcing its bullish structure, while the Nasdaq remains capped below 29,000 resistance and its June-July consolidation range.
Market participants remain focused on several key catalysts, including US-Iran negotiations, security guarantees for commercial shipping, the FOMC policy decision, and major earnings releases from Microsoft and Meta on Wednesday.
The monthly chart of DXY shows an ascending channel dating back to 2008 supporting the Dollar Index's broader bullish trend. A break above 102.00 would strengthen the bullish outlook, exposing resistance at 102.80, 104.50, and ultimately 107.00.