Dollar extends gains as fading ceasefire prospects fuel risk aversion

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