Dollar index may test resistance at 103 in Q4
UUP•The dollar index may test resistance at 103 in the fourth quarter, with a break above potentially opening the way toward 104. A rising channel points to 103.45, while support is at 100.76 and 100.16.
1. Potential resistance levels
The dollar index may test resistance at 103 in the fourth quarter; a break above could open the way toward 104. Projection levels place a target zone at 103-104, while a wave pattern suggests a possible rise into the 104-107 range before a downward reversal.
2. Daily chart levels
On the daily chart, the index is testing resistance at 101.50, with a rising channel pointing toward 103.45. It is highly likely to overcome that barrier, but less likely to succeed on its first attempt, as no decent correction has occurred since the rise from 98.60. Support is at 100.76, with a break below potentially triggering a fall to 100.16.
