The US dollar index remains in a bullish trend inside the bullish short-term channel since 93.80. The trend remains bullish as long as the price is above 98. New highs are expected above 101-102 over the coming weeks.
The US dollar index is above the Ichimoku cloud and inside the bullish channel as we can observe in the 4-hour chart above. Support is found at 99 and then at 98. Resistance is seen at 100.
The US dollar index remains in the long-term bullish trend after breaking above the consolidation range we were in for the last few months. Now we see bulls testing important long-term resistance levels. Last week we saw a correction and this is over now as the bullish trend resumes.
The material has been provided by InstaForex Company - www.instaforex.com