United States Dollar Index Forecast: Tests 23.6% Fibo. below 101.00
The post United States Dollar Index Forecast: Tests 23.6% Fibo. below 101.00 appeared on BitcoinEthereumNews.com. The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, extends the previous day’s pullback from the 101.25-101.30 region and attracts some follow-through sellers on Thursday. The index touches a fresh weekly low during the first half of the European session and currently trades around the 100.90 area, down over 0.15% for the day. From a technical perspective, the DXY is supported by the 23.6% Fibonacci retracement level of the May-June upswing and holds a constructive near-term bias above the 100.50 horizontal resistance breakpoint, which should act as a pivotal point. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator stays below zero with a negative reading at -0.09, hinting that bullish momentum is still tentative despite the supportive structure. Furthermore, the Relative Strength Index (RSI) at 56.09 sits in neutral ter