The Dollar Continues Its Downtrend, Here Is The Next Support
Published At: Aug 02, 2025 by
Gareth Soloway
The Dollar (DXY) took a big hit after the Non Farm Payrolls data and previous month revisions were much worse than expected. The drop on the Dollar was due to expectations of more future rate cuts and possible stimulus. More Dollars in the system, the less the Dollar is worth against other currencies.
The DXY from a technical analysis standpoint is in a classic descending parallel channel. This means that the next leg lower in the DXY will likely take it to the bottom of the parallel channel. Therefore, the next significant bounce in the DXY will be at 95.
