The dollar index was demolished last week. In fact, it fell below the psychological brand or 100 on Friday to reach 99.01, the lowest level since July 2023. However, it has managed to return from this minimum and close the week with 100.10. The ongoing tariff war, the expectation of more rates cuts in the United States Federal Reserve is weighing on the backback.
Dollar perspective
The fall below 100.50 in the dollar index (100.10) is very significant. This week’s price action will be very important. A strong and sustained ascent is needed above 100.5 to relieve the downward pressure. Only then can an increase to 102-102.50 be seen.
The lack of non -compliance with 100.50 can continue to maintain the index under pressure. In that case, a 98.65 test, you can see the following key support. A break below 98.65 will increase the danger that the index falls around 96 in the coming weeks.
More ascent
The 10 -year Treasury yield performance. UU. (4.49 percent) witnessed a strong increase last week. Of a minimum of 3.87 percent, the yield was fired at high or 4.59 percent. It has increased decisively above the resistance zone of 4.4-4.45 percent. That leaves the upward perspective. There is room to rise more.
The 10-year yield can increase to 4.65-4.7 percent from here. A break above 4.7 percent
The 10 -year yield has to fall below 4.35 percent again to deny the increase mentioned above.
Alcista outbreak
The euro (Euusend: 1,1355) has made a bullish breakdown above the key resistance level of 1.12. Strong support is now in region 1.12-1.1150. While the currency remains above this support, bias will remain positive. As such, the euro has the potential to see 1.16 initially and only 1.20 long -term rise.
The potential of an increase in 1.20 in the euro indicates that the dollar index can be defeated more badly.
The support has
Indian rupee (USDINR: 86.05) decreased well below 86 last week, against our expectations. Last week, we said that the rupee can oscillate in a range or 84.90-86.
The national currency fell to a minimum of 86.71 and recovered in the second half of the week. He closed the week at 86.05 in the segment on land and slightly lower than 86.16 in the market on the high seas.
In the lists, 86.70 is a good support for the rupee. That seems to have a hero very well. The resistance is at 85.85. If the rupee manages to break this resistance, it can be strengthened to 85 in the short term.
On the other hand, the lack of non-compliance with 85.85 can keep the rupee in a range U 85.85-86.70 for some time. Strong rest is needed below 86.70 to take the rupee at more pressure. If that happens, the rupee can fall to 87.30-87.50
Posted on April 12, 2025