Looks to find a firm break above the October high at 95.15 now
The dollar is having a bright start to the session, as it trades higher against the rest of the major bloc with sterling being one of the main casualties over the past hour. Cable has now fallen to a low of 1.3131 on the day, down by 0.3%.
Meanwhile, EUR/USD has also traded to a low of 1.1543 before finding support and bouncing a little to trade at 1.1550 now.
As for the dollar index, it is trading to its highest levels since July 2017 and buyers are looking for a firm daily close today above the 95.15 level - October high. A break there would be a good platform for buyers to extend the momentum higher as the next region of resistance is seen somewhere around 96.00 to 96.30 only. Following that, it's the 23.6 retracement level @ 97.94.
It's a pivotal day for the dollar, maybe not in terms of news, but from a technical perspective the break here could have meaningful consequences in the short-to-medium-term. Watch this space come day end later.
