FX.co ★ The Dollar index is testing major resistance.

The Dollar index is very close to a major break out and an important new bullish signal. Price has formed a bullish cup and handle pattern within another cup and handle pattern. Price is now challenging the neckline resistance at 93.20.

The Dollar index if it breaks above the 93.20 it will provide an important bullish signal. If the break out occurs, I will be expecting the Dollar to continue to strengthen and push the index at least towards 94.10. The most probable target would be equal to the depth of the cup, this means a move towards 95.20-95.50 should be expected if price breaks out above resistance.