The greenback bounces higher on the day
I'm not seeing or hearing of any reason for the jump here apart from possibly thin trading, but the move could be sparked by some technical levels too. The dollar index tested just under the 94.50 and ran into support from the 22 June low and bounced thereafter.
On days like these, such fluctuations in the market is not entirely unexpected. Thin trading and summer time trading with the World Cup makes for uneven markets at times. Quiet one second, spike the next.
But it is what it is, and the dollar now closes back in on a test of the 200-hour MA (blue line) @ 94.77. That will be the next key level to eye for in terms of resistance levels.
