Forex: US Dollar Index flat above 82.50

The greenback, measured by the US Dollar Index, is trading almost unchanged on Monday, meandering between 82.30 and 82.50 in response to the lack of direction prevailing in the markets.

Focusing on the near term and remarking the recent upside, David Solin, analyst at FXA.com, commented, “But view the recent gains as part of a much larger period of wide ranging, with at least another month or 2 of this chopping, and not seen as the start of a major new upleg”.

At the moment, the index is losing 0.04% at 82.31 and according to tradingcentral.com, the next resistance levels line up at 82.60 and 82.70; while supports sit at 82.15, 81.75 and 81.60