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Dollar Index Rejected From PRZ

Interval: Daily

This is an update of the last analysis on Dollar Index

Even though the fundamentals are still favoring the dollar, we can see that the technical analysis is given more and more bearish signals. Price of the index got into the PRZ(point D) of the Bearish Bat harmonic and fell back to the local support at 82.32.  If today’s trading session will close under this level then we can a expect a continuation of the fall to 81.42 where the first target of the harmonic pattern will be hit.

Next targets will be 50% retrace of CD and 61.8 Fibonacci retrace from the same move. We will keep you updated on the next price action.

Dollar Index Rejected From PRZ by