The Dollar index has moved above the Ichimoku cloud and bulls are trying to change the trend to bullish. The support at 80.05 is still valid and the price has managed to hold above 80.15. There is no clear trend and traders should be very cautious. Bulls feel a bit safer than bears now because the price is above short-term resistance and above support.

Breaking below the Ichimoku cloud at 80.05 will push the index towards 79.80-79.75. Short-term resistance is found at 80.25. If broken, the price is expected to move towards the previous high of 80.40. The ichimoku cloud provides strong support that could help bulls push it higher. Strong resistance at 80.40 (if broken) will push the index towards 80.70.

The daily chart continues to trade inside the Ichimoku cloud. The trend is neutral in the daily chart. Breaking above 80.40 gives us a buy signal with 80.80 target. Support is at 80 and then at 79.75. Breaking below 79.75 will be a very bad daily signal for bulls.