U.S. Dollar Index: More Strength Ahead?

The US Dollar pulled back last week, touching its uptrend channel support line.

But, as we thought it would, the Dollar reversed higher and is now testing its short-term pullback resistance line.

Use the chart below for reference.

A close above 96.20 will be positive for another move higher.

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This would be very similar to what occurred on March 1.

Should this occur, then the next target will be 98.

U.S. Dollar Index “daily” Chart

us dollar index rally higher price targets 98 99 chart march 22 year 2019

Author may have positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.