The Dollar Index keeps its bullish trend

The Dollar index has confirmed the breakout of the 55 day EMA (purple line) and it is currently heading towards the 50% Fibo. It is possible for the 50% Fibo to act as a resistance in case the index reaches that zone, but the most relevant levels that could act as resistance are the 61.8% at the 102.03 level and the 76.4% at the 102.71 level. Today, the comments by Janet Yellen have supported the Dollar, after she said that there may be a need to raise interest rates in the upcoming meeting by the Federal Reserve. Therefore, it is possible for the Dollar to keep rising during the next few weeks. But we could also see a pullback of the index towards the 55 day EMA, which could act as a support, even if it is only temporary.