Technical outlook:
US Dollar Index dropped to 91.75 early this month before reversing. The rally towards 93.65 had taken out previous resistance at 93.50 and confirmed a potential trend reversal. The index is seen to be trading at around 93.05 at this point in writing and is expected to turn higher soon. Immediate resistance is seen towards 94.00, while support is at 91.75 levels respectively. Please also note that immediate boundary which is being worked upon is between 91.75 and 93.65 respectively. The index might reach fibonacci 0.618 support of the above rally, which is seen around 92.40/50, before turning bullish again. Potential targets remain towards 94.85 and 96.75 respectively.
Trading plan:
Remain long, stop below 91.75, target is open.
Good luck!
