The Dollar index remains above support at 97. I continue to favor at least a short-term bounce towards 99. I’m not bearish at current levels and at least I prefer to be neutral.
Blue lines – trading range
The Dollar index is below the Kumo (cloud). Support is at 97. Resistance is at 97.30-97.40 and next at 97.70. I continue to expect a stronger bounce towards 99 but for that to happen we will need confirmation with a break above 97.70.
Red line – resistance
Green line – broken long-term support
The Dollar index is still trading on top of the weekly Kumo(cloud) support. This level should produce at least a short-term bounce before price moving lower. Maybe tomorrow’s NFP report will be the trigger.
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