The Dollar rallies on the back of the FED

Today’s comments by the new FED chairman, Jerome Powell, has caused the Dollar to rally amid the possibility of higher interest rates. On the daily chart of the Dollar index we can see that the instrument has rallied really fast, but at the moment, the 90.46 level is acting as resistance as it did at the beginning of February. The 55 day EMA (purple line) may also contribute for that zona to become a resistance. Above the 55 day EMA, the 91, 92, or 93 levels may act as resistance to the 200 day EMA (blue line). To the downside, the 89.53 level may act as support, because the 200 month EMA is right at that level. The lows at the 88.14 level may also act as support.