US dollar boosted pre-NFP
The US Dollar Basket has been experiencing a positive week, since moving higher from an ascending trendline support. One of the key resistance levels to watch has now been broken at $98, with price now finding support for a likely next leg higher.
As such, this looks a lot like a short-term consolidation within an uptrend and thus further upside is expected (non-farm payrolls permitting) with another major resistance ahead at $98.61 which if broken would form a six-month high.
Downside support is found at $98.00, which if broken would look towards trendline support (currently $97.77).