Investment Tips 29-05-2023 12:27 24 Views

The dollar index, today we are testing support at the 104.00

The U.S. dollar declined on Thursday. What about the Euro?

The dollar index, today we are testing support at the 104.00

  • The May dollar growth was stopped on Friday at the 104.12 level. 

Dollar index chart analysis

The May dollar growth was stopped on Friday at the 104.12 level. From that moment, we see a retreat that has continued today. A low was formed this morning at the 104.05 level. For now, we have support at that level because we have recovered to the 104.25 level. 

We do not have the formation of a new high, which would mean a possible continuation of the retreat below the 104.00 level. Potential lower targets are 103.80 and 103.60 levels. We need a positive consolidation and a new test of the 104.40 level for a bullish option. Breaking above would be very helpful for us, and to stay above. With the next impulse, we would start to conquer higher levels. Potential higher targets are 104.50 and 104.60 levels.

Dollar Index chart analysis

 

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