US Dollar Index Fluctuates, Gold Prices Respond; $DXY Weakens Below 104, Breaks Support and Resistance Levels

The US Dollar Index ($DXY) experienced fluctuations, initially hitting a certain level before declining. Gold prices were influenced by the moderate strength of $DXY. Subsequently, $DXY dropped below 104, indicating weakness and breaking support and resistance levels established in March. The index was noted to be nearing oversold territory on a daily basis.