The Dollar Index (DXY) is trading at $105.132, down 0.01%. The pivot point at $105.185 is crucial for determining market direction. Immediate resistance levels are at $105.458, $105.649, and $105.892. On the downside, support levels are at $104.892, $104.710, and $104.446.
The 50-day Exponential Moving Average (EMA) is at $104.788, while the 200-day EMA is at $104.961. These technical indicators suggest a bearish outlook below the pivot point.
The outlook remains bearish below $105.185, but a break above this level could shift the bias towards a bullish trend.
Arslan is a finance MBA and also holds an MPhil degree in behavioral finance. An expert in financial analysis and investor psychology, Arslan uses his academic background to bring valuable insights about market sentiment and whether instruments are likely to be overbought or oversold.