U.S. Dollar Index is losing ground as traders focus on the strong pullback in the oil markets, which is driven by Iran deal hopes. Demand for safe-haven assets declined, which was bearish for the American currency.

Currently, U.S. Dollar Index is trying to settle below the 50 MA at 101.81. In case this attempt is successful, U.S. Dollar Index will move towards the next support, which is located in the 101.50 – 101.65 range. A successful test of the support at 101.50 – 101.65 will open the way to the test of the next support level at 100.85 – 101.00.