Dollar bulls continue to have the upper hand as the Dollar is getting strogner. The Dollar index has broken above 81 and is in a fully bullish mode. I expect the Dollar index to make small shallow pullbacks and create bullish flag patterns on the way to 81.75.
The price is above the Ichimoku cloud and support is at 80.94. The Dollar index is making higher highs and higher lows. The price is inside the upward sloping channel and I remain bullish on the Dollar. Bears will need more than a pullback in order to change the intermediate-term trend that is bullish. Bears will need to break below 80.45 to change the trend.
The daily chart confirms that the trend is bullish as the price is above the Ichimoku cloud. It is still inside the upward sloping channel. The Dollar index has broken its previous high at 81 from early June. We remain bullish targeting 81.75 and higher.
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