Technical outlook:
US Dollar Index has managed to push through 94.59 highs until yesterday. The end of the day chart has been presented here as index trades close to 94.50 at this point in writing. Please note that bulls have remained in control since 91.75 lows early this month and the trend would remain up until prices stay above that. Immediate resistance is seen towards 95.00, while interim support is towards 92.60 levels respectively. It is quite possible that US Dollar Index produces a corrective drop towards 93.50 levels before resuming its rally. Also note that 93.40/50 zone is also past resistance turned support as bulls would be determined to hold. Overall structure would continue to remain bullish until 91.75 holds and corrective drops should be seen as opportunities to initiate fresh long positions.
Trading plan:
Remain long, stop @ 91.75, target is open.
Good luck!
