The US Dollar not breaking any pots this Friday with minor moves in either direction.

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• The US Dollar not breaking any pots this Friday with minor moves in either direction.
• Traders are sidelined with US CPI revisions on the docket.
• The US Dollar Index fails to close above the 100-day SMA and could slide back below 104.

The US Dollar (USD) is steady to lower this Friday with nothing really to report in markets. All eyes are rather on headlines in the papers with the landslide victory of former US President Donald Trump in both Nevada and the Virgin Islands, giving him a comfortable lead already early in the Primaries. The second big topic is the interview of former Fox news reporter Tucker Carlson with Russian President Vladimir Putin where the broad strokes are that Putin is not interested in invading the West, only Ukraine.

On the economic front, a blank sheet with no economic data to report besides the publication of the revision of the Consumer Price Index (CPI) weightings and results. Once a year, in January, the Bureau of Labour Statistics (BLS) revises and recalculates the seasonal adjustedment factors which could impact the Greenback. One US Federal Reserve Speaker is due to make an appearance after the European Closing Bell. Lorie Logan from the Dallas Fed is set to speak around 18:30 GMT.

The US Dollar Index (DXY) is showing fatigue after the cost of finally moving away from the 200-day Simple Moving Average (SMA) near 103.61. Ideally a close above the 100-day SMA at 104.27 would have set forth the Greenback for more gains into next week, though US Dollar bulls are not supporting that plan. Instead, a week of false breaks took place and could mean that the DXY now falls back to the 200-day SMA for support.

Should the US Dollar Index move higher again, first look for a test at the peak of Monday, near 104.60. That level needs to be broken and is more important than the 100-day SImple Moving Average snap at 104.28. Once broken above that Monday high, the road is open for a jump to 105.00 with 105.12 as key levels to keep an eye on.

The 100-day SMA (104.28) is clearly the unreliable boyfriend in the rally at the moment. A false break on Monday and no support provided on Tuesday from the moving average opens the door for a bit of a squeeze lower. The first ideal candidate for support is the 200-day SMA near 103.61. Should that give way, look for support from the 55-day SMA near 103.02 itself.

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