Risk on / Risk off flows in the dollar - #forex #dxy

Dollar keeps bouncing around like a yo-yo due to risk on / risk off flows in the forex market. Over the last few months, we have been confined to the tight range in the dollar index, while on a short time frame chart it has been oscillating around 96.50 to 95.12 on the weekly timeframe. As of now, the market is has not made up its mind which direction it wants to go and so we will have to look for intra levels and price action to determine its next move. Resistance for the dollar can be found at 95.91, 96.28 and 96.51 while support to the downside can be found at 95.57, 95.13 and 94.63.