The US Dollar Index reversed lower as expected. There were signs of a pending reversal a couple of days ago as the extended rise in the US Dollar Index was reaching important resistance levels. The area around 93.10 is of great importance for the bullish scenario. I believe that the pullback will help the price reach 96 and the uptrend will resume. I remain neutral for the short term.
In the daily chart, the US Dollar Index paused its rise right at the lower cloud boundary resistance. The index is expected to pullback towards the black area of support, which used to be a resistance level. So, this back test should bring the index towards the area of 96.50-96.