The Dollar Index stalls its drop

The Dollar Index has suffered a great drop after the US fundamental data came out worse than expected and after the enthusiasm over the economic stimulus that Donald Trump has been promising dissipated. The drop on the Greenback exacerbated even more when the Pound started rallying after the UK’s prime minister said that she was going to call for general elections in June. On the daily chart of the Dollar Index we can see that once the index came to the 200 day EMA (blue line) around the 99.36 level, it stalled there and it is currently trying to pull back up from there. But in order for the index to go back to its bullish trend, it must break above the high that it made around the 101.25 level. To the downside, in case the index breaks below the 200 day EMA, its next support area could be the low that it made around the 98.66 level.