The Dollar in support zone

The Dollar Index has touched two times the 95.22 level as shown on the daily chart and it may possibly form a double bottom formation. The double bottom formation is a bullish reversal pattern when it is completed. In order for the double bottom pattern to confirm itself, the Index must break above the 96.00 level with two or three bullish candles. But we must keep in mind that the 97.00 level may act as resistance, especially when very close to that level we can see the 55 day EMA (purple line). For now, the Dollar Index stays consolidated between the 95.22 level and the 96.00 level. If the Index breaks below the 95.22 level, then its next support level could be the 95.00 level, but a better support could be the 94.00 level. To the upside, above the 97.00 level, the 98.00 could act as resistance along with the 200 day EMA (blue line) at the 98.33 level.