DXY

The Classic Dollar Index continues its upward trend that started last week with the US CPI data gradually. It blinked at the 107 level tested in October 2023 above the 105.55 level. Since the Fed can now keep interest rates steady longer than other major central banks, the DXY remains strong. The first level in the continuation of the rise is 106,700, the high of November 10. Above, the DXY Index may encounter resistance at 107.35, the high of October 3. On the downside, new support levels must also be overcome and the Dollar Index may see itself hovering around the first important level, the psychological figure of 105.50, and briefly returning below and above. Further down, 104.60 should also act as support, ahead of the area where the 55-day and 200-day Simple Moving Averages are located at 103.97 and 103.84 respectively. Support: 105,500-104,600 Resistance: 106,700-107,350