The US Dollar Index (DXY) is under pressure, falling below 99.60, as market sentiment shifts towards riskier assets following the US-Iran peace deal. This deal, while details remain scarce, has sparked moderate optimism, sending Treasury yields and the USD lower. The technical analysis reveals a bearish near-term outlook, with the DXY breaking below its upward-sloping channel. Key support levels at 99.38 and 99.15 are now in focus, while resistance lies at 99.65, a previous support area. A move above this level could expose the psychological 100.00 mark and the June 11 high at 100.30. The USD's performance against major currencies today highlights its weakness, with the strongest performance against the Japanese Yen. This article delves into the implications of the US-Iran peace deal and the technical analysis of the DXY, offering a comprehensive outlook on the US Dollar's trajectory in the coming days.
