The Dollar has shrunk from channel resistance. As long as it remains in this channel, bullishness remains. A bounce off trendline
support in the 95.6 area is preferred, but we could still see a test of 95 flat. The latter case would imply sizable bounces in the Euro
, AUD, and Gold
. Of course, if the bullish
thesis holds, these will bounces to sell, and in the case of the Dollar, the dip to buy.
I project a measured move to the 102 area in the coming months, which should provide the next consolidation zone.