Pre-Summary
The Dollar is consolidating after breaking above the important 101 resistance level. This pause is allowing the 10-day moving average to catch up to price while former resistance begins acting as new support. A bullish breakout from consolidation would favor continuation of the daily uptrend.
Last Thursday, the Dollar broke above the important 101 resistance level, leaving it stretched above the 10-day moving average.
Since then, the Dollar has consolidated above 101 as former resistance has turned into support. This pause has allowed the 10-day moving average to catch up to price while former resistance is tested as new support.
The Dollar remains in a daily uptrend while holding above this new support level.
A bullish breakout from the current consolidation would favor continuation of the daily uptrend and signal a daily cycle band buy signal.
Cycle Study
When Resistance Becomes Support
Strong trends often pause after breaking above an important resistance level. Consolidation allows the market to test whether the breakout level has become new support while the 10-day moving average catches up to price.
Holding support favors continuation of the existing trend.
Cycle Trading 
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