US Dollar Index Forecast August 17, 2015, Technical Analysis

The US Dollar Index went back and forth during the course of the session on Friday, bouncing off the 96 level for support. With that being the case, the market looks as if it is ready to continue to consolidate overall. The market has massive resistance at the 98 handle, so having said this we feel that if we break above the top of the range for the session on Friday, we believe that buying as possible. Ultimately though, we don’t think that the US Dollar Index is going to go too far anytime soon.