Dollar Is Waiting for Confidence
From a technical point of view, on a daily chart, Dollar Index stands within a triangle pattern and is supported by its 50-day moving average (in blue). The daily RSI stands around its neutrality area. Readers may therefore consider the potential for further advance in case of a break above April top at 101.00 which would lead to March high at 103.00. The nearest support would be set at April bottom at 98.80. A break below this threshold would lead to further weakness towards horizontal support at 97.40.
Source: TradingView, GAIN Capital