The dollar index continues to pivot around the 2 August low @ 92.548
The greenback is a little higher on the day heading into the US jobs report, with the market seemingly positioning for slightly better figures in today's release.
The dollar's upside momentum from the last two weeks (and earlier this week) has stalled in the last three days as the market awaits the next risk event for the dollar. And it looks to be setting up for a big one indeed.
So, what are the key levels to watch out for the dollar index and for the US dollar later?
The key to any move for the dollar would be to stay above the 200-day MA (blue line). As long as price stays above that, momentum and bias remains bullish still. So, even in the event of a slip in the dollar later the 200-day MA will be one to watch closely.
In terms of downside move, first up is the key level mentioned above @ 91.955. After which will be the 50.0 retracement level @ 91.363.
Meanwhile, upside levels appear quite a distance away if the dollar can shake off the 2 August low @ 92.548. The next key level to look out for will be the 38.2 retracement level @ 94.303 as well as the 94.000 figure level.
Those will be levels to watch out for in the coming days too should the dollar start to build momentum on either side of the 200-day MA.
