The Dollar Index (DXY) hovers near $105.20, stabilizing after a 1% rise on Wednesday. The pivot point at $105.11 indicates a cautious market stance, with resistance levels at $105.58, $105.97, and $106.27 suggesting potential upward limits.
Support levels at $104.78, $104.45, and $103.94 offer downside buffers. The 50 EMA at $103.97 lends short-term support, while the distant 200 EMA at $108.83 reflects longer-term trends.
The outlook remains bullish above the pivot, but slipping below could lead to a significant sell-off, highlighting the index’s sensitivity to current market dynamics.
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.