The US Dollar has weakened in the lead-up to Friday's jobs report, following a drop in private-sector hiring that was reported on Wednesday. The 
DXY failed to recover after making contact with the resistance area of the ascending channel, and it has lost over 0.40%. It is now heading towards the support area of the channel, setting up an exciting scenario ahead of the NFP report scheduled for Friday. If the outcome of the report is better than expected, it could be a boost for the US dollar. However, this would also sustain the Fed's objective on its monetary policy campaign.
DXY failed to recover after making contact with the resistance area of the ascending channel, and it has lost over 0.40%. It is now heading towards the support area of the channel, setting up an exciting scenario ahead of the NFP report scheduled for Friday. If the outcome of the report is better than expected, it could be a boost for the US dollar. However, this would also sustain the Fed's objective on its monetary policy campaign.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.