The Dollar Index today holds relatively steady at 105.966, down a marginal 0.04%. The currency benchmark appears to consolidate just above its pivot point at 105.525, suggesting a hesitant market sentiment. Should the index sustain above this level, it could encounter resistance at 106.654, with further barriers at 107.365 and 108.087.
Conversely, a dip below the pivot could see the index testing lower supports at 104.064, followed by 102.984 and 102.070, potentially indicating a bearish shift. The 50-day and 200-day Exponential Moving Averages, at 104.128 and 103.876 respectively, provide additional technical grounding, reinforcing a bullish outlook unless the pivot is breached.
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.