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Let’s dive into the nitty-gritty details of the Dollar Index and EUR/USD pair to get a better understanding of the current market trends.
The Dollar Index is currently trading at $104.680, showing a slight increase of 0.03%. The pivotal point at $104.561 is crucial for determining market direction. Resistance levels are identified at $104.796, $104.997, and $105.214, with support levels at $104.334, $104.094, and $103.884. Technical indicators highlight the 50-day Exponential Moving Average (EMA) at $104.401 and the 200-day EMA at $104.718, signaling a bullish outlook above $104.561.
Shifting our focus to the EUR/USD pair, we observe the currency pair trading at $1.08199, marking a slight uptick of 0.03%. The pivotal point stands at $1.08300, acting as a critical resistance level. Immediate resistance levels are noted at $1.08706, $1.08961, and $1.09216, while support levels can be found at $1.08040, $1.07797, and $1.07529. Technical indicators suggest a bearish outlook below $1.08300, with the 50-day EMA at $1.08541 and the 200-day EMA at $1.08289.
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