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, 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.