Today’s analysis of the Dollar Index shows stability with a minor adjustment, priced at 106.113. The index hovers just above its pivot point at $105.93, suggesting a possible resistance near the $106.54 mark. Further resistance is seen at $107.10 and $107.61, indicating potential upward barriers.
Conversely, support levels are found at $105.54, followed by $105.22 and $104.90, which could act as cushions if the index dips.
Technical indicators, including the 50 EMA at $105.78 and the 200 EMA at $104.75, suggest a foundational support level that bolsters the index’s stance above its pivot. The market outlook is bullish above $105.93, yet a breach below this threshold might prompt a sharp sell-off.
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.