Bullish breakout on the Dollar

The Dollar index finally breaks out above the 95.00 level after almost three months consolidated between that level as resistance and the 94.00 as support. The Dollar index keeps its bullish trend, which never really reversed even with the recent consolidation. The 55 day EMA is showing us that the bullish trend is gaining strength. The index consolidated around the 95.00 level during four sessions before breaking out, something that it did not do during the previous visits to that level. The Dollar index breaks above the 96.00 level and if it continues rallying, it may reach the 97.00 level, but it has not confirmed such a breakout. In case of a pullback, the 95.00 level may become support for the Dollar index. Fundamentally, the Dollar is still strong and it may continue rallying during the upcoming week, but it may also try to correct the current spike up.