Will U.S. dollar extend rally?

By Julian Yosovitch

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The dollar index (NYBOT:DXU14) extended hikes on Wednesday reaching 82.07 points and we still believe the increases should be extended to the 82.65 level. A movement above that zone will  enable further momentum, lookng to attack the 83.50 area and even previous highs located at 84.90.

If we see any bearish attempts, we think the dollar can find support at 81.20 or potentially around 80.70, while the previous lows of 79.80 will serve as a key medium-term support.

The current assessment of the dollar is evidenced principally by lows found in the GBP/USD and the EUR/USD as well as the increases in the USD/CHF.