The dollar kept firm tone and rose further against its major counterparts on Thursday, following rise in oil prices (Brent bounces back above $100) that sparked fresh wave of risk aversion and fueled demand for safe-haven greenback.
Fading ceasefire hopes after initial euphoria that pushed the dollar index down over 10% on Monday, revived bulls and kept the index within broader bull-channel after pullback from new 2026 high at $100.26 (on failure to hold gains above $100 breakpoint) was repeatedly contained by rising channel support line.
Daily studies in full bullish configuration (multiple MA bull-crosses / strengthening bullish momentum / today’s rally spiked above Fibo 61.8% retracement of $100.26/$98.63 bear-leg) contribute to positive near term outlook.
Bulls look for fresh attack at psychological $100 barrier (following failures in July / November 2025 and March 2026) with sustained break higher to confirm formation of larger base (weekly & monthly chart) as well as signal break above multi-month range ($95.30/$100.30) and expose initial targets at $100.95 (Fibo 38.2% of $110.00/$95.35) and $101.80 (May 2025 top).
Near-term bias is expected to remain with bulls while the price action holds above strong $99 support zone (bull-channel support line / weekly Ichimoku cloud base).
Res: 100.00; 100.32; 100.94; 101.49
Sup: 99.43; 99.00; 98.63; 98.42
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