The Dollar Index today remains stable at 105.687 having a pivot point set at 105.927, which could dictate the future course. The Dollar Index faces immediate resistance at 106.536, with further hurdles at 107.097 and 107.608 potentially capping any upward moves. On the downside, initial support lies at 105.537, with subsequent levels at 105.221 and 104.901, which could provide fallback positions if the index starts to retreat.
The 50-Day Exponential Moving Average (EMA) is currently at 105.837, slightly above today’s level, indicating mild resistance. Meanwhile, the 200-Day EMA at 104.888 offers a broader support base below the current index level. The technical perspective suggests the Dollar Index might lean towards bearishness below its pivot of 105.927.
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.