The dollar index is looking for support at the 101.80 level
The dollar index rose to 102.23 levels yesterday, thus confirming the previous high from the beginning of the week.
Dollar index analysis
The dollar index rose to 102.23 levels yesterday, thus confirming the previous high from the beginning of the week. Again, we did not stay up for long, and a pullback to 101.70 levels followed. At the end of the day, the index settled at the 101.95 level. During the Asian trading session, the dollar index made a slight bearish consolidation and retreated to the 101.80 level. For now, the dollar manages to stay at that level. For a bearish option, we need a break below and a new test of yesterday’s support at the 101.70 level. Potential lower targets are 101.60 and 101.50 levels. We need a positive consolidation and a return above the 102.00 level for a bullish option. Then we need to maintain the above, and with a new impulse, we would be able to start a further recovery. Potential higher targets are 102.10 and 102.20 levels. From today’s important news for the dollar index, we can single out the following: Initial Jobless Claims, Philadelphia Fed Manufacturing Index, and Existing Home Sales. This news will definitely affect the movement of the index.
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