FX.co ★ Technical analysis of USDX for September 29, 2016

There is nothing new in the Dollar index as the price remains trapped inside the medium-term trend triangle pattern and inside the short-term trading range. Traders should better be cautious and patient and focus on 96.50 and 94.60 levels.

Green lines - trading range

Blue line - important support trend line

Red line - important resistance trend line

The Dollar index is trading below the Ichimoku cloud but still inside the trading range. The price is still inside the triangle pattern depicted by the red and blue trend lines. Short-term support is at 95.25 while resistance lies at 95.70. A breakout of this short-term trading range may push the index towards the triangle boundaries.

Green line -support

The price continues to trade sideways above the green trend line support and below the Ichimoku cloud. There is no clear trend as we trade sideways. Traders need to be patient and wait untill the market provides a breakout.