During the Asian trading session, we see continued sideways movement of the dollar. We are still hovering around the 102.00 level. The range movement is from 101.95-102.15. To continue on the bullish side, we need an impulse that would move us to 102.30 and thus give us room for higher consolidation.
If that were to happen, the index would have a better starting position for further recovery. Potential higher targets are 102.40 and 102.50 levels. We need a negative consolidation and a pullback of the dollar below the 102.00 support level for a bearish option. After that, we could expect a continuation of the retreat, with support targets at 101.90 and 101.80 levels.
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