Chart of the Day – US Dollar DXY – (August 23rd, 2023)

<div><p><div><h2 itemprop="headline">Possible False Breakout</h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The US Dollar showed a reversal following the S&amp;P PMI’s today, this was following weak Eurozone and UK PMI’s earlier today. This does suggest US “exceptionalism” may be coming to an end (for now) and that the US could suffer the same fate as the rest of the world. This move comes just before the Jackson Hole Symposium, which will showcase Federal Reserve Chair Jerome Powell on Friday. On Friday, if traders  think that the FOMC may be finished hiking rates for the remainder of 2023, the USD could accelerate losses into the week end. A break back below the 200DMA would also suggest the US Dollar may be in a longer term range bound environment.</p>
<p><img decoding="async" fetchpriority="high" class="alignnone size-full wp-image-10687" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/DXY_2023-08-23_09-07-03.png" alt="" width="1502" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/DXY_2023-08-23_09-07-03.png 1502w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/DXY_2023-08-23_09-07-03-400×223.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/DXY_2023-08-23_09-07-03-800×447.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/DXY_2023-08-23_09-07-03-768×429.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/DXY_2023-08-23_09-07-03-1500×838.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/DXY_2023-08-23_09-07-03-705×394.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/08/DXY_2023-08-23_09-07-03-450×251.png 450w" sizes="(max-width: 1502px) 100vw, 1502px" /></p>
<p>Blake Morrow</p>
<p>Our <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
<p><a href="https://traderfundingprogram.com/?ref=Forexflow"><img decoding="async" class="size-full wp-image-10111 aligncenter" src="https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2.png" alt="" width="728" height="90" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2.png 728w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-400×49.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-705×87.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2022/12/TFP-728×90-2-450×56.png 450w" sizes="(max-width: 728px) 100vw, 728px" /></a></p>
</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Steve Voulgaridis</p>
</div></section></p>
<div><div><div><h5>Share this entry</h5><ul><li><a target="_blank" href="http://www.facebook.com/sharer.php?u=https://www.forexanalytix.com/blog/chart-of-the-day-aug-23rd-2023/&amp;t=Chart%20of%20the%20Day%20–%20US%20Dollar%20DXY%20–%20%28August%2023rd%2C%202023%29" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Facebook"><span>Share on Facebook</span></a></li><li><a target="_blank" href="https://twitter.com/share?text=Chart%20of%20the%20Day%20–%20US%20Dollar%20DXY%20–%20%28August%2023rd%2C%202023%29&amp;url=https://www.forexanalytix.com/blog/?p=10686" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Twitter"><span>Share on Twitter</span></a></li><li><a target="_blank" href="https://plus.google.com/share?url=https://www.forexanalytix.com/blog/chart-of-the-day-aug-23rd-2023/" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Google+"><span>Share on Google+</span></a></li><li><a target="_blank" href="http://linkedin.com/shareArticle?mini=true&amp;title=Chart%20of%20the%20Day%20–%20US%20Dollar%20DXY%20–%20%28August%2023rd%2C%202023%29&amp;url=https://www.forexanalytix.com/blog/chart-of-the-day-aug-23rd-2023/" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Linkedin"><span>Share on Linkedin</span></a></li><li><a target="_blank" href="http://www.tumblr.com/share/link?url=https%3A%2F%2Fwww.forexanalytix.com%2Fblog%2Fchart-of-the-day-aug-23rd-2023%2F&amp;name=Chart%20of%20the%20Day%20–%20US%20Dollar%20DXY%20–%20%28August%2023rd%2C%202023%29&amp;description=" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Tumblr"><span>Share on Tumblr</span></a></li><li><a target="_blank" href="http://reddit.com/submit?url=https://www.forexanalytix.com/blog/chart-of-the-day-aug-23rd-2023/&amp;title=Chart%20of%20the%20Day%20–%20US%20Dollar%20DXY%20–%20%28August%2023rd%2C%202023%29" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share on Reddit"><span>Share on Reddit</span></a></li><li><a href="mailto:?subject=Chart%20of%20the%20Day%20–%20US%20Dollar%20DXY%20–%20%28August%2023rd%2C%202023%29&amp;body=https://www.forexanalytix.com/blog/chart-of-the-day-aug-23rd-2023/" aria-hidden="true" data-av_icon="" data-av_iconfont="entypo-fontello" title="" data-avia-related-tooltip="Share by Mail"><span>Share by Mail</span></a></li></ul></div></div></div>
<p>The post <a rel="nofollow" href="https://www.forexanalytix.com/blog/chart-of-the-day-aug-23rd-2023/">Chart of the Day – US Dollar DXY – (August 23rd, 2023)</a> appeared first on <a rel="nofollow" href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>