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2025-07-30 16:44:44
[US Dollar Index Technical Analysis] The US Dollar Index is currently trading around 98.80, having rebounded from a low of 96.37, reaching a high of 99.14. However, it encountered resistance near the 100.00 mark, reflecting significant selling pressure above this level. The candlestick chart suggests that bullish momentum has stalled, leading to short-term profit-taking. However, the overall rebound trend remains intact, with the price remaining between the middle Bollinger Band (97.72) and the upper Bollinger Band (99.04). The Bollinger Bands remain slightly open, reflecting a relatively strong and volatile market. Regarding the MACD indicator, the DIFF line continues to rise from below the zero axis, and the MACD histogram has been expanding since late July, indicating a shift from bearish to bullish momentum in the short term. However, the MACD indicator is currently nearing its previous high. If the event-driven market falls short of expectations, caution against a short-term correction. The RSI indicator is near 58.4, not yet in overbought territory, suggesting further upside potential. However, this also suggests that bulls are reaching a critical zone and the market urgently needs a new catalyst to break through the 100 mark. Technical analysis suggests that 99.14 and the 100.00 mark constitute key resistance above. A breakout with significant volume could lead to a re-challenge of 101.00. Support below is at 97.92 and the lower Bollinger Band at 96.38. A break below the latter would signal a temporary trend reversal.
