The US Dollar Index is trading within a sideways range during the day, fluctuating around the key pivot level at 98.00, reflecting a state of market indecision and balanced momentum between buyers and sellers. As long as the index remains near this level, price action is expected to stay within a range-bound structure.
If the index manages to push higher, it may target 98.50 followed by 99.00, signaling a potential shift toward bullish momentum. On the other hand, if downward pressure increases, the index could decline toward 97.500 and then 97.00, which represent important support levels. Overall, holding above 98.00 may support a retest of 98.50 in the near term.
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