The Dollar index made a bullish reversal on Friday and held above cloud and trend line support. This price action justifies continuation of the upward bounce as long as price is above 91.80.
The Dollar index broke above the trend line and the 4-hour Kumo (cloud). It pulled back to back test the breakout area and is now bouncing higher. Bulls need to see a higher high above 92.70 to be more confident of the bullish short-term trend. Support is at 92-91.70 area.
The Dollar index remains inside the daily bearish channel and below the daily Kumo (cloud). Price is now trading above the kijun-sen. A daily close above it will open the way for a move higher towards 93-94.
The material has been provided by InstaForex Company - www.instaforex.com
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