The Dollar index made new higher highs yesterday but price got rejected at the cloud resistance. We could see a new lower low towards 92.50-93 before starting the next leg up towards 97.
Red rectangle - target if support area fails
The Dollar index bounced off the 38% Fibonacci retracement towards cloud resistance and got rejected. Price remains below the 4-hour Kumo (cloud) something that strengthens the bearish short-term trend. Breaking below the green rectangle support area will be a bearish sign. Price will be next going towards the red rectangular area.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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