US Dollar Index - Technical Analysis: Tuesday, 23/05/2017 07:29 GMT

The US dollar index succeeded to reach our extended target at 96.65 and settles there, which represents 76.4% Fibonacci for the rise from 94.44 to 103.80, thus, breaking this level is considered as the key to head to the previously recorded bottom at 94.44.

We believe that the negative pressure still valid, and will push the index to break the current support and head towards the above mentioned target, noting that surpassing 98.02 will stop the current negative pressure and lead the index to start recovery attempts on the short term basis.