FX.co ★ #USDX analysis for November 12, 2013

The Dollar index remains supported by bullish trend and the prices are expected to continue higher to new higher highs. Trend remains up, our view remains bullish and the prices are expected to test 81.50 and break above it towards 82.

The dollar index remains bullish as long as the prices trade above the blue upward sloping trend line. Prices have not broken below support at 80.75-60 (previous resistance now turned to support) and we expect the double top at 81.50 to be broken.

Short-term support is found at 81 and below that at 80.80. Short-term resistance is found at 81.50 and long-term resistance as shown in the second chart is found at 81.65-70. We remain bullish with 81.70-82 as target as long as the prices trade above 81. Long-term target is 83.