The Dollar Index (DXY) slightly increased, recording a 0.07% rise to 103.426. Currently hovering around the pivot point of 103.387, the index demonstrates potential for further upward momentum if it remains above this threshold.
Immediate resistance is observed at 103.660, with subsequent levels at 103.932 and 104.295 posing challenges for continued growth. Support levels are identified at 103.104, 102.733, and 102.355, offering potential stabilization points in case of a decline.
The 50-day EMA at 103.156 and the 200-day EMA at 103.521 suggest a tight trading range, underscoring a cautiously bullish outlook contingent upon maintaining above the pivot point.
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.