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US Dollar Stabilizes Ahead of Key Resistance: Will New Tariffs Provide Bullish Momentum?
Apr 02 15:45
Summary:
On April 2, 2025, the USD remained stable as the market waited for details on President Donald Trump's new tariff policy. The USD Index (DXY) traded around 103.42, down 0.42% from the previous session.
CLOSED
103.500
ENTRY
104.500
TGT
103.000
SL
102.010 -0.670 -0.65%
-500
Points
Loss
103.000
SL
103.000
CLOSING
103.500
ENTRY
104.500
TGT
Overview
On April 2, 2025, the USD traded around 103.82, down 0.42% from the previous session. This stability occurred in the context of the market waiting for details on the new tariff policy that President Donald Trump is expected to announce later in the day. Sources said that the Trump administration is considering applying reciprocal tariffs to reduce the trade deficit and protect domestic manufacturing. However, specific details on the items and tax rates have not been announced, creating uncertainty in the market.
In the international market, the Dollar Index (DXY), which measures the strength of the USD against 6 major currencies, slightly decreased to 104.14 points. The USD is under pressure as investors are worried about the tariff policies that will be announced by the Trump administration tomorrow.
Market psychology
Current investor sentiment reflects caution and wait-and-see. While the dollar has not moved much, lower trading volumes suggest investors are temporarily on the sidelines, awaiting more clarity on tariff policies and their impact on the economy. This uncertainty is also reflected in market sentiment indicators, which show a balance between optimism and concern.
Technical analysis
On the DXY chart, the price is trading in a narrow range between support at 103.50 and resistance at 104.50. This consolidation could signal a strong breakout on new information.
Bollinger Bands (20,0,2) show that the price is moving in a neutral zone, with a narrow range, reflecting a lack of volatility. If the price breaks out of this band, it could trigger a new trend.
The RSI (14) indicator is currently at 50, showing no clear buy or sell signal, reinforcing the view that the market is waiting for new information.
MACD indicator (12,26,9) is near the signal line, not confirming any strong trend, agreeing with the above view.
The Stochastic indicator (5,3,3) is also neutral, showing no signs of overbought or oversold.
Trading Recommendations
Entry: Consider buying DXY when price breaks above 103.50 resistance on increasing volume, confirming the breakout.
TP: Target take profit at 104.50, near previous high and also 61.8% Fibonacci retracement level.
SL: Place stop loss at 103.00, below key support, to limit risk.
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
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