The dollar index remains above the 103.00 level

• Last week’s retreat of the dollar stopped at the 103.00 level this morning. 

Dollar index chart analysis

Last week’s retreat of the dollar stopped at the 103.00 level this morning. From that moment, the dollar started to recover and rose to 103.15. We could have a possible resistance at the 103.20 level. We need a break above to see a further continuation to the bullish side. Potential higher targets are 103.40 and 103.62 previous high.

Depending on the strength of the bullish impulse, we could also see the formation of a new higher high in the zone around the 104.00 level. We need a negative consolidation and a break below the support at the 103.00 level for a bearish option. After that, the index would come under more pressure, which would mean a further pullback to the next support level. Potential lower levels are 102.75 and 102.50 levels.