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The US dollar struggles to hold onto its gains amid uncertain trading conditions

Technical Analysis
By Mostafa Mahmoud
The US dollar struggles to hold onto its gains amid uncertain trading conditions
3 68

DOLLAR INDEX

مؤشر الدولار الأمريكي 16-4-2025

The US Dollar Index is trading below the resistance level of 101.25$, and prices are likely to target the support level of 98.00$. This scenario would be invalidated if the resistance level of 101.25$ is breached upwards.

Support

 98.00 95.80 –
Resistance 101.25 103.25

–

The US Dollar Index (DXY) saw a noticeable decline, dropping by 0.55% to reach 99.67 points. This decline follows a series of continuous decreases, reflecting a general weakness in the US currency.

Markets are currently in a state of anticipation, as investors await the results of US trade talks and upcoming economic developments. The first-quarter GDP data from China and the speech of Federal Reserve Chairman Jerome Powell are expected to influence market sentiment, although these data are considered somewhat delayed. Traders are also awaiting the Bank of Canada’s meeting, with a 40% probability priced in for an interest rate cut, which reflects a general weakness in the dollar.

Despite these challenges, the US dollar remains a global reserve currency, and this decline is not expected to lead to its collapse. However, if this trend continues, it could lead to a reassessment of the dollar’s role in the global financial system.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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3 Comments
  1. 4o Image API says

    The dollar’s retreat to 99.67 really highlights how much weight investors are placing on external economic signals. I’ll be watching the Fed’s speech closely—any hawkishness might challenge that 98.00 support.

    Reply
  2. 4o Image API says

    Great breakdown of the DXY’s current levels. With global trade tensions and key economic data coming up, it’s going to be interesting to see if the dollar can hold above 98.00 or if we’ll see a deeper pullback. The next few weeks should provide more clarity on its direction.

    Reply
  3. Banana says

    Thanks for the detailed analysis, Mostafa. It’s interesting to see the DXY struggling near key support levels, especially with the uncertainty around US trade talks and Q1 GDP data. The potential breakout above 101.25 could shift the momentum, but for now, the pullback seems to align with broader market caution. It’ll be worth watching how this plays out in the coming days.

    Reply
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