The Dollar Index modestly ascended to 104.359, exhibiting slight strength. With a pivot at $103.92, resistance levels are eyed at $104.42, $104.68, and $105.12, while support lies at $103.54, $103.23, and $102.77.
Technical indicators, including the 50-day and 200-day EMAs at $103.87 and $103.81 respectively, suggest a bullish trend, anchored slightly above the pivot.
A sustained move above $103.92 could reinforce this uptrend, but dipping below could trigger a significant bearish adjustment.
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.