The US Dollar index continues to trade below the horizontal trend-line resistance at the previous highs. The index continues to move towards higher lows approaching a shallow pullback, however bulls need to be cautious at these levels as another rejection could push the index towards 95.50.
The US dollar index continues to trade above the Ichimoku cloud but below important resistance at 96.60. I would remain bullish over the longer term and would buy if the price brakes decisively above the red trend-line resistance. Support is found at the level of 95.50 of the Ichimoku cloud. So, another rejection now will push the price towards that area.
Green line - support
The weekly bullish flag remains intact as the price has been continuing to trade withing the same trading range for some time. It holds above the weekly Ichimoku cloud support and any pullback here should find strong support in the cloud area. Breaking above the red resistance trend line will be a bullish sign that can bring new highs for the index.
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