According to ME News, on April 17 (UTC+8), Matt Simpson, an analyst at StoneX, stated in a research report that, based on technical analysis, the U.S. Dollar Index may experience a modest short-term rise. Currently trading near 98.249, the Dollar Index formed a “slightly bullish” pattern around its 200-day simple moving average on Thursday, while the two-day Relative Strength Index is in an oversold condition. However, several resistance levels exist, including the 98.44 200-day exponential moving average that bulls must test. (Source: ChainCatcher)
StoneX analyst predicts a short-term slight rise in the Dollar Index
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Summary
On April 17, StoneX analyst Matt Simpson noted that the dollar index could experience a short-term rise, pointing to a 'slightly bullish' pattern in the moving averages. The index is near 98.249, with the 200-day simple moving average providing support for a potential rebound. The Fear & Greed Index indicates oversold conditions, but bulls must overcome resistance at 98.44, the 200-day exponential moving average.
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