DOLLAR_INDX,DXY H4 1 March 2024
DOLLAR_INDX, H4
The Dollar Index maintains a steady position as the US Core PCE Price Index registers a decline to 2.4% on a yearly basis in January, in line with market projections. Despite the dip, the impact on the Dollar's performance against other currencies is limited, as attention turns to additional economic indicators, including disappointing Initial Jobless Claims and Chicago PMI figures.
The Dollar Index is trading higher following the prior rebound from the support level. MACD has
illustrated increasing bullish momentum, while RSI is at 61, suggesting the index might extend its
gains since the RSI stays above the midline.
Resistance level: 104.50, 104.95
Support level: 103.70, 102.90
The Dollar Index maintains a steady position as the US Core PCE Price Index registers a decline to 2.4% on a yearly basis in January, in line with market projections. Despite the dip, the impact on the Dollar's performance against other currencies is limited, as attention turns to additional economic indicators, including disappointing Initial Jobless Claims and Chicago PMI figures.
The Dollar Index is trading higher following the prior rebound from the support level. MACD has
illustrated increasing bullish momentum, while RSI is at 61, suggesting the index might extend its
gains since the RSI stays above the midline.
Resistance level: 104.50, 104.95
Support level: 103.70, 102.90
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