The Dollar index remains in the short-term bullish trend that started at 96.30 last week after the gap down. The price has a short-term target at the previous high of 100.50. The longer-term trend remains bullish targeting 102-103.
Green line = resistance
Red line = support
The Dollar index has broken the green trend-line resistance continues to trade above the Ichimoku cloud. The cloud provides support at 97.50. The kijun-sen provides short-term support at 98.50. Now, the index is trading closer to the previous highs and current target at 100.50.
The weekly chart remains fully bullish as the price remains inside the upward sloping orange channel and above the tenkan-sen. The lLong-term trend remains bullish with 102-103 as 1st target area. Bulls aim to hold above 96.20 on a weekly close.
The material has been provided by InstaForex Company - www.instaforex.com
