The Dollar Index (DXY) is currently trading at $105.305, reflecting a slight increase of 0.06%. The pivot point at $105.216 is critical for determining the next price movement. Immediate resistance is noted at $105.449, followed by $105.608 and $105.816.
On the downside, immediate support is found at $105.031, with further support at $104.849 and $104.636.
Technical indicators show the 50-day Exponential Moving Average (EMA) at $105.274 and the 200-day EMA at $105.019. These EMAs provide key levels of support and resistance, indicating the overall trend direction. The current market stance suggests a bullish outlook above the $105.216 pivot point.
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.