Today’s technical analysis for the Dollar Index shows a slight increase, rising by 0.08% to 105.227. Positioned just above its pivot point at 105.042, the index suggests potential upward movement if it can maintain its current trajectory. Resistance levels are set at 105.492, 105.886, and 106.287, each marking critical thresholds that could define the near-term trend.
Conversely, support lies at 104.530, with additional levels at 104.200 and 103.884, which may serve as safety nets against further declines. Both the 50-day and 200-day Exponential Moving Averages hover around the current price, indicating a neutral to slightly bullish outlook. A decisive move above 105.492 would confirm a stronger bullish sentiment, while a drop below could signal bearish trends.
Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.