Volatility index finds support

Source: Dukascopy Bank SA


The next month's volatility index CFD has been finding support in a support zone at 14.85/15.00. Meanwhile, resistance is being provided by the 17.35/17.90 range.

A move below 14.85/15.00 would result in the index being at low levels not seen for years. In such an environment fundamental events could cause retracements and reveal support zones. Besides that, look at round levels.

However, a potential increase of market volatility might cause a surge of the index. In the case of a surge, round levels are expected to act as minor resistance, before the 17.35/17.90 range is tested. Above the resistance range, note the 20.30/22.20 high level zone.
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