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Dollar index (USDX) holds rebound gains above 102.00

The rebound in the US dollar yesterday was pretty universal and that saw the Dollar index (USDX) extend its gains above 102.00. The index rose to a high at 102.25. It closed near to that high last night, ending the US session at 102.20. It has held its ground above 102 so far today, but without making any further progress yet. The major driver behind the gains for the index was the slide in the EUR/USD, but more on that pairing in another update. The index managed to reclaim the first minor Fibonacci correction level, at 102.20. However, the more important one in that respect is at 103.18. That is still some way off and ahead of that comes the 21 day moving average. That looks like the next topside level of note and it is currently in place at 102.61. The range seen so far today has been covered by 102.07 to 102.21. It is just now trading around 102.12 
 

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