The situation did not change much from last week, as the dollar is trading above 50 Fibonacci of the downside wave 103.77 88.14 and the bulls are trying to penetrate the resistance 97.10 to reach the resistance 97.52 97.65 and succeeding in overcoming it targeting the weekly resistance R2 and the price 99.99.
On the other hand, a break of the 95.50 support draws attention to the 50 Fibonacci levels at 95.97.The continuation of the decline and breaking the low of last week 95.15 increases the weakness of the dollar to head to the main low 94.60, which in the event that buyers are not able to maintain it increases the acceleration of the decline to target the Fibonacci 38.2 and the average 200 weekly at 94.12
We have a negative divergence on the indicators, confirming the weakness of the current upside trend so far, and on the other hand, the RSI remains stable above the 50 line.
Looking at the daily chart, the index bounced from the Exponential Average 200 for the fifth time to remain strong resistance for buyers, breaching the resistance level 97.52 97.65, and succeeding in surpassing it targeting the weekly resistance R2 and the price of 99.03.
Support Levels: 96.10 95.70 9510
Resistance Levels: 97.16 97.52 98.22
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