06.07.2017 09:04 AMThe Dollar index continued its bounce towards 96.5 resistance but got rejected. Bulls need to hold above 96 and make a higher low before the next leg up. Trend remains bearish and there is no trend reversal confirmation yet.
Red line - resistance
The Dollar index bounced towards the 4-hour Kumo (cloud) and trend line resistance at 96.50 and got rejected. This increases the chances of making a new lower low. However if support at 96 holds, we could see a higher low being formed before the next leg up towards 98.50.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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