The US Dollar Index got rejected at the previous high horizontal resistance as we expected and is pulling back now. The price is likely to move towards 95.25.
Green line – resistance (broken)
Red line – previous high horizontal resistance
The US Dollar Index is pulling back after being rejected at the previous resistance. I expect the pullback to test the Ichimoku cloud and to move, why not, a bit lower towards the kijun-sen support. I prefer to wait in order to enter a long position when this pullback reached my targets.
Red line – resistance
Green line -support
The weekly chart remains inside the bullish flag pattern. The price is also above the weekly cloud support. It is testing the weekly kijun-sen resistance and we would probably will see a rejection soon. Breaking above this level will push the price towards the red trend-line resistance near 97.50.
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