In today’s technical outlook, the Dollar Index stands at $105.166, marking a slight increase of 0.09%. The pivot point at $104.922 serves as a critical juncture; surpassing this could propel the index towards immediate resistance at $105.558. Further resistances are poised at $106.006 and $106.474.
On the flip side, immediate support forms at $104.530, with subsequent levels at $104.200 and $103.884.
The 50-day EMA is currently at $105.636, and the 200-day EMA at $105.198, both suggesting a consolidation phase. A steadfast move above the pivot point indicates a bullish trend, while a descent below could trigger 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.