The Dollar index remains strong and makes new short-term highs. With the Dollar index near 80.30, Dollar bulls have the upper hand as the trend remains bullish and the important resistance at 80.60 is to be challenged. The Dollar index remains in up trend in the short-term. Price is above the Ichimoku cloud and has broken all short-term resistance levels and is trading above 80.
The Dollar index continues to make higher highs and higher lows. Important short-term support is the 80 level. If broken we should expect the Dollar index to move towards 79.70 where the Ichimoku cloud support is found. Next short-term resistance is found at 80.60-.70.
The daily chart remains bearish but bulls are challenging the Ichimoku cloud resistance and the upward sloping trend line resistance that was once support. Bulls look strong for now and I believe that the index will manage to break above the cloud (80.40) but will find resistance at 80.60 and pause the rise. A pull back should be expected from that level. Concluding, the dollar index is giving each day more signs of a trend reversal on a daily basis. This could have as a longer-term target a price near 84-85.
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