The US Dollar (USD) trades broadly stable on Monday after a calm weekend without geopolitical headlines setting the tone. The Greenback will not be able to enjoy the calm start for long, because this week is full on the economic front.
The US Dollar trades mixed against its major peers on Monday. Markets are in a positive tone after a quiet weekend on the geopolitical front. The US Dollar Index trades in the mid-104.00 region, looking for direction. The US Dollar trades broadly stable on Monday after a calm weekend without geopolitical headlines setting the tone. The Greenback will not be able to enjoy the calm start for long, because this week is full on the economic front.
00 round level, which broadly aligns with the 55-day Simple Moving Average . It will be important to see if these levels hold support should the US data weaken. Once that is proven, look for 105.52 and 105.88. On the downside, the 200-day SMA at 104.44 and the 100-day SMA around 104.42 are the last line of defence. Once that level snaps, an air pocket is placed between 104.30 and 103.00. Should the US Dollar decline persist, the low of March at 102.35 and the low from December at 100.
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