Dollar Index (ICE) may rise 1660 - 3160 pips

Pivot

104.9500

Our preference

Long positions above 104.9500 with targets at 105.2700 & 105.4200 in extension.

Alternative scenario

Below 104.9500 look for further downside with 104.8000 & 104.6500 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

105.6000

105.4200

105.2700

105.1040 Last

104.9500

104.8000

104.6500

Number of asterisks represents the strength of support and resistance levels.