The DXY is in a long-term upward cycle after bottoming out at 71–72 (2008–2010) and forming higher lows from 2011.


- It peaked above 110 in 2022 and is currently correcting to 99.27 (May 2026).
The long-term upward trend line (red dashed) from late 2018 still acts as important support. The price is currently right above this line, indicating a high probability of the DXY recovering to 102–105 in Q3–Q4 2026, unless there is a strong break below 98.5.
Impact on Gold Price
The DXY and gold have a strong inverse relationship (correlation of -0.7 to -0.9).
- The period when the DXY fell from 110 to 99.27 supported the bull market momentum of gold. Conversely, if the DXY breaks above the red trendline, this will be the main downward pressure on gold over the next 6–12 months.
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