US Dollar Index has held above the 96.40 support yesterday. The index has managed to bounce through 97.15 levels today, before pulling back lower again. Next in line resistance is through 97.40/50 zone and bulls would remain poised to break higher. Potential wave counts also suggest that the US Dollar Index might have carves Waves 1 and 2 as labelled on the chart here and Wave 3 could be in progress. If the above counts hold well, US Dollar Index could be heading towards 103.00 and further as Wave 3 progresses. Overall, the index looks bullish against 95.70 support, going forward.
Remain long, stop @ 95.70 target @ 103.00 and higher.
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