Dollar index has risen sharply since February end but has experienced correction from 31st March; it currently stands at the 50% Fibonacci retracement of the rally from 25th February to 31st March, suggesting support at lower levels. It has ended in a doji candlestick formation on 15th March near this Fibonacci support and the lower Bollinger band, suggesting a rebound in the offing. It would be prudent to say that Dollar index could advance towards 91.95 and 92.25 while it sustains above 91.40.
Technical Analysis Team
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