Price Action: Dollar Index 4H

14 de mai. de 2021

The dollar index, which ranks the US Dollar against the major currencies, rejected the support at the 90.00 level. Because of that, the exchange rate has risen by 1.06% during these trading sessions. Right now, the dollar index is trading near the upper boundary line of a falling wedge and could set for a breakout, depending on the US retail sales numbers. If the breakout happens, a wave towards the 200– period simple moving average around 91.50 could happen during the following trading sessions. Nevertheless, if the falling wedge upper boundary line holds, bearish traders could continue to push the dollar index lower in the falling wedge throughout the following trading sessions.