Dollar index and 50,0% Fibonacci level
A pullback of the dollar to the 50.0% Fibonacci seems to be key to continuing the bearish trend. We need a negative consolidation to continue the bearish trend, and for now, the dollar is calm and moving just below the 50.0% Fibonacci. If we fail to move above, there is a high chance that we will revisit the previous low at 110.00. For a bullish option, we need a break above and a jump in the 112.70-113.00 zone. From that zone, the dollar could make a new bullish impulse towards the previous high and possibly the formation of a new higher high.
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