Technical analysis of USDX for January 11, 2017
The Dollar index made a lower high and pulled back down towards 101.50 yesterday but support at 101.28 held. Bulls are trying to push the index higher today and currently short-term resistance at 102.10 is being tested.Show full picture
Blue line - short-term resistance
Green line - divergence
The Dollar index is testing short-term resistance at 102.10. If broken we are going to see a bounce towards 102.50 where the most important short-term resistance is found. Support is at 101.28 and if broken we should expect a sharp decline towards 100-99Show full picture
On a daily basis trend remains bullish as price is making higher highs and higher lows. Price is currently trapped between the tenkan- and kijun-sen (red and yellow line indicators). A daily breakout will confirm the next big move in the index either to new highs or towards the Ichimoku cloud support at 100.
Published: 11 Jan 2017, 07:10 UTC+00