DXY Breakdown: Bears Take Control Below Key Channel!U.S. Dollar Currency IndexTVC:DXYKennedeyMurphyTechnical Analysis Of DXY Market Structure The U.S. Dollar Index (DXY) recently broke below its ascending channel, signaling a potential shift from bullish to bearish structure. Price has retested the lower boundary of the channel and is currently trading just beneath it, indicating possible continuation to the downside. Resistance Zone A minor resistance area (around 99.50–99.70) has formed after the breakdown. Price rejected this region, showing weakening bullish momentum. As long as DXY remains below this zone, sellers maintain control. Support and Downside Targets The first major support lies at the 98.65 level, which also aligns with a previously respected demand area. A break below this support could open the door for a deeper decline toward the final demand zone around 96.50–97.00, where buyers previously stepped in aggressively. Outlook Market structure signals a building bearish sentiment. A failed retest of the broken channel and resistance zone strengthens probability of further downside. Watch for confirmation via a clean break below the 98.65 support to validate continuation.