Today’s technical analysis of the Dollar Index shows a slight downturn, with the index currently at 105.266, down by 0.09%. The critical pivot point is established at 105.214, marking a decisive level for future movements. Immediate resistance lies at 105.536, with more substantial barriers at 106.188 and 106.927.
Conversely, the index finds immediate support at 104.896, with further support levels at 104.515 and 104.035. Technical indicators such as the 50-day and 200-day Exponential Moving Averages are at 105.763 and 105.633 respectively, suggesting a closely contested area around the current price.
The outlook remains cautiously bullish above 105.214, but a dip below this threshold could precipitate a sharper selling trend.
EUR/USD Technical Forecast
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.