DOLLAR TRADES AT KEY SUPPORT LEVEL
The United States Dollar Index broke out of the short term support region and fell to 101.785 region as per what we have analyzed in the previous week.
We can see that momentum is extended from the initial reversal from the 105.575 resistance region all the way to 102.77 where the Dollar then trading in a lower time frame consolidation. Price fail to push higher when the previous support (now resistance) at 103.225 turns price away.
Extending out the view on the Dollar, we can see that price is now at key support area, Any indication of reversal or reversal confirmations may give Dollar its needed retracement.
We can see that momentum is extended from the initial reversal from the 105.575 resistance region all the way to 102.77 where the Dollar then trading in a lower time frame consolidation. Price fail to push higher when the previous support (now resistance) at 103.225 turns price away.
Extending out the view on the Dollar, we can see that price is now at key support area, Any indication of reversal or reversal confirmations may give Dollar its needed retracement.
