The US Dollar (USD) trades flat, just above 105.00 on Tuesday, and is unlikely to move away in the coming hours unless something pivotal occurs. Despite its gains from Monday, after French President Emmanuel
The US Dollar was unable to hold on to Monday’s gains. The Greenback eases a touch after headlines that Le Pen won’t run in the June French snap elections. The US Dollar index trades just above 105.00 and flirts with nearby support levels. The US Dollar trades flat, just above 105.00 on Tuesday, and is unlikely to move away in the coming hours unless something pivotal occurs.
The next level to watch is 105.88, which triggered a rejection at the start of May and will likely play its role as resistance again. Further up, the biggest challenge remains at 106.51, the year-to-date high from April 16. On the downside, a trifecta of Simple Moving Averages is now playing as support. First, and very close, is the 55-day SMA at 105.05. A touch lower, near 104.
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