The Dollar Index shows a cautiously upward trajectory, settling at $104.265, a marginal increase of 0.09%. Key price levels to watch include a pivot point at $103.92, with immediate resistance looming at $104.36. Further resistance is marked at $104.68 and $105.12.
On the downside, immediate support is pegged at $103.54, followed by $103.23 and $102.77. Technical indicators reveal the 50-Day Exponential Moving Average (EMA) at $104.35 and the 200-Day EMA at $103.95, suggesting a tentative bullish sentiment.
The overall trend indicates bullish potential above the $103.92 pivot point, while a breach below this threshold could trigger a sharp selling trend.
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.