Forex Analysis by MarketPulse (Zain Vawda) covering: US Dollar Index Futures, US Dollar Index. Read MarketPulse (Zain Vawda)'s latest article on Investing.com
The future of the dollar may be influenced by external factors like oil prices and Middle East tensions. continued its ascent yesterday to tap a fresh high before finishing the day flat. Some mixed price action thus far this morning leaves and PPI data ahead leaves the Dollar in an intriguing position.releases have kept the greenback largely supported this week as safe-haven demand waned.
Yesterday saw the daily candle close as a doji, which does hint that a potential reversal may be on the way. As mentioned the overarching fundamentals do continue to keep the US Dollar supported and could limit any potential downside. Conversely, support is provided by 102.64 and 102.165, while particular attention should be given to the breakout area around 101.80.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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