The US dollar index is trading sideways inside a trading range between 103.50 and 102.50. The medium- and long-term trend remains bullish. The continuation of the upside trend is more probable as long as the price is above 101.50.
The short-term support is at 102.50 where we find the Ichimoku cloud support and the lower trading range boundary. The short-term resistance is at recent highs at 103.55. The holiday season is ahead, so volatility is expected to be low.
Green line - long-term trend line support
The long-term trend remains bullish as long as the price is inside the upward sloping red channel. The price remains above the Kumo (cloud) and this confirms the long-term bullish trend. The weekly support is at 100 and next at 97. Stochastic oscillator is diverging at overbought levels. This is a warning for bulls.
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