Growth of the dollar index only up to 102.75 levels
- During the Asian trading session, the dollar stops its growth at 102.75.
Dollar index chart analysis
During the Asian trading session, the dollar stops its growth at 102.75. After that, we see the beginning of a bearish trend and a pullback to the 102.45 level. The current pressure on the American currency could further lower the index, and the potential lower targets are 102.20 and 102.00 levels. If we follow the EMA50 moving average, it is in the zone around 101.80 levels.
Even with a drop to that level, the dollar would still be in an ascending channel, but the pressure would be on the support line. We need a positive consolidation and a return around the 102.80 level for a bullish option. Then we need a breakout above and a hold up there. With the new impulse, the dollar could climb up to 103.00 levels. The last time we were there was a month and a half ago.