The US Dollar trades in the green against its peers, recovering some of the losses registered on Monday Equity markets are erasing their positive start of the week. The US Dollar Index jumps back above 104.00 after falling below it during the Asia-Pacific trading session. The US Dollar trades in the green on Tuesday in an attempt to recoup Monday’s losses. The Greenback is rallying supported by substantial safe-haven inflows as most major equity markets are in the red.
On the upside, the DXY first faces the double belt of resistance in the form of the 200-day Simple Moving Average at 104.43 and the 100-day SMA at 104.42. Next up, the pivotal level near 104.60 comes into play. Topside for now is forming around 105.00, with the 55-day SMA at 105.00 and the peak from recent weeks at 105.12. On the downside, the Greenback is trading in that air pocket area in which the 104.00 big figure looks to be holding. Once through there, another decline to first 103.