DOLLAR_INDX, H4
The Dollar Index hovered within a remarkably tight range as investors braced for significant events in the week ahead. All eyes are on the Federal Reserve Chair, who is scheduled to testify before Congress. Market participants widely speculate that the Fed Chief will emphasise the central bank's commitment to its monetary tightening stance. The expectation is that there will be no haste in adjusting rates downward until there's clear evidence that inflation has sustainably settled below the 2%target.
The Dollar Index traded flat, giving no clues for the upcoming movement.
Resistance level: 104.50, 104.95
Support level: 103.70, 102.90
The Dollar Index hovered within a remarkably tight range as investors braced for significant events in the week ahead. All eyes are on the Federal Reserve Chair, who is scheduled to testify before Congress. Market participants widely speculate that the Fed Chief will emphasise the central bank's commitment to its monetary tightening stance. The expectation is that there will be no haste in adjusting rates downward until there's clear evidence that inflation has sustainably settled below the 2%target.
The Dollar Index traded flat, giving no clues for the upcoming movement.
Resistance level: 104.50, 104.95
Support level: 103.70, 102.90