Dollar index – bearish trend intact

20 January 2021

Dollar index has been trading in a lower top lower bottom formation suggesting the trend to be bearish in the medium term, albeit it did rebound since the first week of January which seems to have met with a resistance near 90.95 (near the upper Bollinger band). It would be prudent to say that dollar index could decline towards 90.00 and 89.70 if it sustains below 91.00.

Prepared by
Technical Analysis Team

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