The US Dollar trades flat ahead of a quiet US economic calendar. Markets seem to turn risk-off ahead of Nvidia earnings, benefiting the Dollar and weighing on Chinese tech stocks and cryptocurrencies. The US Dollar Index edges up slightly, trading just below 101.00 for a second day in a row. The US Dollar trades mixed again on Wednesday, with markets getting a bit nervous ahead of Nvidia Corp. earnings to be released after the US closing bell.
18 from the current 101.00. A very heavy resistance level near 104.00 not only holds a pivotal technical value, but it also bears the 200-day Simple Moving Average as the second heavyweight to cap price action. On the downside, 100.62 tries to hold support, although it looks rather feeble. Should it break, the low from July 14, 2023, at 99.58 will be the ultimate level to look out for. Once that level gives way, early levels from 2023 are coming in near 97.73.