Dollar hanging onto key level

The United States Dollar Index managed to not develop new low this week as it trades in consolidation at 105 key region.

However, downside momentum seem to limited as 50 exponential moving average has multiple contact within a short period.

We may potentially see upside movement of the Dollar potentially towards the 107.155 resistance region.

However, if the Dollar Index is to make a new low, we will have a bearish confirmation of the Dollar.