The Dollar Index is currently trading at 105.819, showing a decrease of 0.25%. It sits just below the pivot point of 105.927, hinting at potential downward pressure. Key resistance levels are established at 106.536, 107.097, and 107.608.
Conversely, the index finds immediate support at 105.537, with additional support points at 105.221 and 104.901.
The 50-day Exponential Moving Average (EMA) at 105.572 and the 200-day EMA at 104.577 both underscore a near-term bearish outlook, yet provide underlying support. The Dollar Index’s current stance is bearish below the pivot point 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.