FX.co ★ Dollar index analysis for August 15th, 2022.

Blue rectangle- resistance

The Dollar index has made an impressive comeback to the upside with price challenging previous key resistance level of 106.60. Trend remains technically bearish as price continues making lower lows and lower highs. The Dollar index is now challenging important resistance and the RSI has already reached very close to overbought levels. Are bulls strong enough to break above the resistance. Price has made an impressive move higher from 104.70 to 106.60. If bulls manage to break above the resistance and stay above it, then they will have made the first step towards a major trend reversal.