The dollar index got little changed from yesterday’s session while the market rose by the indications of potential further interest rate hikes to fight inflation. The FOMC minutes didn’t give any specific guidance on further scenarios as the central bank waits for data-driven information to conclude the next possible steps. 

At a glance, the dollar index scratches the swing highs for potential selling and absorption as the Quarter’s developing VWAP serves as resistance despite the hourly interval trades above the particular level. Buyers may target the Quarter’s upper-value extreme. A drop might lead the greenback back to the week’s lower value extreme which is confluent with a prior VWAP close level for potential supportive buying again.

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The ultra-macro view of the dollar heading higher towards the upper standard deviation level on the historical price range with supportive buying around the mean. The forecast points to the upside, according to calculations and analysts' estimates. Selling might emerge around the balanced price range back from 2000 which is confluent with the mentioned upper-value extreme.

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