US Dollar Index Price Forecast and Potential Trend Reversal
Monday, 12 August 2024, 02:19
US Dollar Index Price Remains Above 103.00
The US Dollar Index is currently holding above the significant level of 103.00, indicating potential for a trend reversal. Analysts are keeping a close watch as the index approaches the day Exponential Moving Average (EMA) at 103.39.
Resistances to Watch
- The upper boundary of the descending wedge at approximately 103.60.
- A break above these levels could indicate a stronger bullish trend.
Investors are encouraged to monitor these critical points as shifts in sentiment could lead to broader implications in the market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.