US Dollar Index: The 100.30 2002-2020 downtrend should be held – Commerzbank

The US Dollar Index is approaching the 100.30 2002-2020 where it should fail, according to analysts at Commerzbank.

Key quotes

“We have TD resistance at 100.44.”

“A close above 100.44 would introduce scope to 101.80, the 61.8% retracement and the 103.82 January 2017 high.”

“The market will need to go sub 97.80 (below the 55, 100 and 200 day ma) in order to alleviate immediate upside pressure.”