The Dollar index continues to move higher as the price is making higher highs and higher lows. The price has reached important short-term resistance and previous highs. A pullback towards the 101-100.50 level is expected before the resumption of the uptrend towards 103.
The Dollar index is trading above the Ichimoku cloud. Short-term important resistance is very close to 101.80. Short-term support is at 101. Trend is bullish in all time frames. Important support that would change short-term trend is at the recent low at 100.40.
Black line - neckline resistance
Green line - long-term trendline support
Blue line - resistance
The Dollar index is testing resistance at 101.80-102. Breaking above it will open the way for a push towards 103 at least before a bigger pullback. Long-term critical support now remains at 99.25 where the neckline of the potential Head and Shoulder pattern is found. So, the bulls remain in control.
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