USD-INDEX is set to recapture 100.76 with a breach , eyes on 101.35/103.15 levels !

The US dollar index continued its bullish momentum last week, printed support at the 96.47/94.78 levels, topped at the 99.95 levels. This development leaves the pair targeting the 101.35 levels, a halt could be seen, but a break would open 103.15 next, further gains will target the 105.00 levels.

On the downside, support comes at the 96.47 levels ahead of the 94.47 levels (main), sustained breakout – weekly closing – below the 94.47 levels will turn outlook neutral and bring a corrective pullback above the 89.86 levels before the next rise …

In all, as long as 96.47/94.78 support holds on a weekly closing basis, the medium-term outlook in US dollar index remains very bullish with risk towards the 101.35/103.15 levels ahead of the 105.00 levels, below 97.78 faces a pullback risk above the 89.86 levels before the next rise…

On the daily time frame, the weekly support 94.78 has rejected with hidden bullish divergence, as long as 98.22 support holds on a daily closing basis , the pair remains very bullish and sudden rise couldn’t be ruled out, below 98.22 would delay the bullish move for retesting 96.47 levels and possible lower 94.78 levels before the next rise…

usdindex_Apr_11_weekly

usdindex_Apr_11_daily

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

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