Weak retail sales published today pushed the Dollar index lower. The short-term reversal has found support at the 38% retracement and we could see an upward reversal from the current levels. A high is close to the previous highs and bulls need to be extra cautious.
The Dollar index has retraced as much as the 38% retracement. We could see a short-term bounce but I believe bulls are likely to emerge at the 61,8% retracement. Resistance is at 100 and this double top is a bad signal for bears.
The material has been provided by InstaForex Company - www.instaforex.com
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