Connect with us

Hi, what are you looking for?


The dollar index remains below 106.00 on Monday

dollar exchange

The dollar index remains below 106.00 on Monday

  • Last week, we saw the recovery of the dollar index from 104.80 to 106.00 level.

Dollar index chart analysis

Last week, we saw the recovery of the dollar index from 104.80 to 106.00 level. We encounter resistance at 106.00 level, and Friday is closed at 105.80. During the Asian session, we moved in the zone around that level, testing it and the EMA50 moving average. We now see bearish momentum and a breakout below this support.

Today’s current hunt was formed at the 105.69 level. The current picture tells us that we could see a further pullback as the dollar is under some pressure at the start of this week. This could affect further decline; the potential lower targets are 105.60 and 105.40.

Dollar index chart analysis

We remain under pressure below the 106.00 level.

We need a positive consolidation and a return above the 105.80 level for a bullish option. That way, we would get back above the EMA50 moving average, which would immediately improve the dollar’s picture on the chart. With the support of the EMA50, we would start a further recovery and again attack the resistance at the 106.00 level.

A break above would be the real thing, reinforcing a bullish option for the dollar to continue its recovery. Potential higher targets are 106.20 and 106.40 levels.

This week, there will be a lot of important economic news from all trading sessions. The most important are the British CPI, the Eurozone CPI, and the US CPI. In addition, we should pay attention to Japan’s GDP for the third quarter, China’s industrial production, the Philadelphia Fed Manufacturing Index and Australia’s Unemployment Rate.

The post The dollar index remains below 106.00 on Monday appeared first on FinanceBrokerage.

You May Also Like


Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...


Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...


The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...


NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.

Copyright © 2023