Dollar index: what will the "fresh" inflation data say?

As we noted in our Fundamental Analysis today, tomorrow the US and Canada are celebrating national holidays, US banks and stock exchanges will be closed, and on the eve of the long weekend, strong movements may be observed in the market, provoked by the fixation of some of the trading positions of traders.

If today's publication of US inflation figures will disappoint investors, it will cause a new wave of dollar sales and a drop in DXY towards support levels of 109.60, 109.00. A break of these levels could trigger deeper DXY decline, up to key support levels 107.40, 105.65. Therefore, as long as the DXY remains in the long-term bull market zone, long positions still look preferable. However, they also need a signal to resume. The first such signal will be a breakdown of the important short-term resistance level 110.83.

Support levels: 109.60, 109.00, 107.40, 105.65

Resistance levels: 110.83, 111.21, 112.00, 113.00, 114.00, 114.74, 115.00

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