This week, the dollar index will struggle for 103.00 level

  • The dollar index is struggling to break the 103.00 level.

Dollar index chart analysis

The dollar is struggling to break the 103.00 level. Today, we saw a pullback to 102.80, where we got support and returned to the zone around the 103.00 level. We could easily now see a breakout above and form a new higher high. Potential higher targets are 103.20 and 103.40 levels.

We need a pullback to the 102.80 support level for a bearish option. Then, a break below and a negative consolidation is needed to continue to the bearish side. Potential lower targets are 102.60 and 102.40 levels. Additional support could be found in the EMA50 moving average at the 102.40 level.

This week’s news that could affect the dollar is the Japanese GDP, Retail sales report, NZD interest rate, Building permission, Fed meeting and report, Philadelphia manufacturing index, and Eurozone CPI. This week is not filled with a bunch of news, but it could certainly be interesting.

Dollar index chart analysis

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