The pressure on the Dollar index increased yesterday as we had expected as support levels were broken. The Dollar index remains in a bearish trend towards our 93 target area. Stochastics are oversold so bears should be cautious and use tight stops. The trend reversal to bullish is possible above 95.20.
The Dollar index is trading just above our 93 target we mentioned yesterday after breaking support at 94. Stochastic is oversold but there is still no reversal signal yet. The short-term resistance is at 94. Support is at 93.