US DOLLAR INDEX: COULD A DOUBLE BOTTOM AT THE WEEKLY CHART DRIVE THE DXY TO 111.000?

• The US Dollar Index found bids at around the YTD lows at 100.788.
• USD bulls must retake 104.000 to challenge YTD high at 105.883 and maintain a double-bottom approach.
• Contrarily, USD bears must reclaim 100.788 to test the 200-week EMA at around 99.117.

The US Dollar Index (DXY), a basket of six currencies against a basket of peers, snaps three days of straight losses and climbs 0.56% as the New York session ends. At the time of writing, the DXY exchanges hand at 101.570 as a bullish engulfing candle pattern emerges in the daily chart.