The Dollar Index currently trades at $105.617, marking a slight increase of 0.11%. Positioned just above both the 50-day and 200-day Exponential Moving Averages, set at $105.425 and $105.500. Today’s pivot point is established at $105.480, which serves as a critical juncture for the index.
Immediate resistances are identified at $105.886, $106.146, and $106.483. These levels could restrict upward movements unless surpassed. Conversely, supports are located at $105.223, $104.938, and $104.640, safeguarding against potential declines. Given the index’s stance just above its pivot and moving averages, maintaining above $105.480 may favour further bullish behaviour.
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.