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.
Prepared by
Technical Analysis Team
Offering state of the art execution services through multiple top-tier liquidity providers. Abans Global provides you with a tailor-made solution to match the demanding requirements of your business, with the multi-assets offering, advanced trading platforms and FIX API connectivity that provides ultra-low latency.