The intraday dollar index chart looks like its pausing for breath

The dollar index has rallied 0.70% on the session and outperforms most of the majors.
The next resistance is at 97.07 but the market has stalled at the mean value area of the last consolidation.

Rajan Dhall, MSTA FX Daily

Dollar index 30-minute chart

The dollar has been the outperformer of the session on Thursday, especially against the emerging market currencies. USD/MXN and USDZAR are both trading over 4% higher but the EUR has held up better and it makes up around 60% of the dollar index basket.

The chart below shows the extent of today's rally with the market making a few higher lows and higher highs. The next zone up is between 97.07 and 97.18, a break of this level could confirm that the price could reach higher levels.

The Relative Strength Index is firmly in the overbought zone and it looks like it might be pulling back at the moment. The MACD signal lines are in a separation phase and the histogram is also firmly in the green.

Additional levels

Dollar Index Spot

Overview
Today last price	96.81
Today Daily Change	0.73
Today Daily Change %	0.76
Today daily open	96.08

Trends
Daily SMA20	98.42
Daily SMA50	99.3
Daily SMA100	99
Daily SMA200	98.45

Levels
Previous Daily High	96.46
Previous Daily Low	95.72
Previous Weekly High	98.24
Previous Weekly Low	96.44
Previous Monthly High	100.56
Previous Monthly Low	97.94
Daily Fibonacci 38.2%	96
Daily Fibonacci 61.8%	96.18
Daily Pivot Point S1	95.71
Daily Pivot Point S2	95.35
Daily Pivot Point S3	94.97
Daily Pivot Point R1	96.45
Daily Pivot Point R2	96.83
Daily Pivot Point R3	97.2

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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