Dollar Index Violates the Bullish Trendline – Sellers Looming
Arslan Butt • 1 min read
On Wednesday, the dollar advanced against most currencies, as optimism over a US-Mexico trade agreement gave way to concern that a dispute over trade between Washington and Beijing isn’t about to end soon.
Dollar Index – Daily Chart
However, the technical side still remains strongly bearish. As you can see on the daily timeframe, the dollar has already violated the bullish trendline support of $94.85. Technically, the index can continue selling until $94.10.
Speaking about the support and resistance, the dollar index is likely to face an immediate resistance at $94.85, while the support prevails at $94.10. Good luck for today!