US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
Dollar Index Testing Resistance
2021-08-12 • Updated
USD Index 4H Chart
USD Index Daily Chart
The US Jobless Claims declined slightly to 375K inline with the market estimates, while the PPI data showed an acceleration, including PPI and Core PPI on MoM and YoY basis, sending the US Dollar index higher once again to retest its 93.0 solid resistance area. The technical indicators remain bullish bit the momentum is easing, which may lead to another leg lower before the upside trend resumes. Any downside retracement is likely to remain limited between 92.30 and or 92.0 where we will be interested to investigate a new long position.
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 92.19 | 92.58 | 92.75 | 92.97 | 93.14 | 93.36 | 93.75 |
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