The Dollar Index is currently trading at $104.432, down 0.07%. The 4-hour chart highlights the pivot point at $104.399, a key level for near-term price action. Immediate resistance is at $104.598, followed by $104.763 and $104.920. On the downside, immediate support lies at $104.258, with further support at $104.072 and $103.856.
The 50-day Exponential Moving Average (EMA) is positioned at $104.661, while the 200-day EMA stands at $105.118, indicating a bearish trend. Holding above the $104.399 pivot point supports a bullish outlook, but a break below this level could trigger a sharp selling trend.
Arslan is a finance MBA and also holds an MPhil degree in behavioral finance. An expert in financial analysis and investor psychology, Arslan uses his academic background to bring valuable insights about market sentiment and whether instruments are likely to be overbought or oversold.