FX.co ★ Short-term analysis on the Dollar index.

The Dollar index remains in a short-term bullish trend despite the recent pull back. Price reached 94.50 area where we find important Fibonacci resistance. Price got rejected and turned lower towards the short-term support trend line.

Blue line- support trend line

The Dollar index so far respects the upward sloping blue trend line, Price has so far reached the 38% Fibonacci retracement and first important resistance. As long as price holds above the blue support trend line, bulls are in control of the trend trying to break above the recent highs. If the recent high is broken upwards and the RSI provides a new higher high, then we have good news for bulls as this would be a positive sign.