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USDX technical analysis for December 9, 2015

The US dollar index got rejected at the 38% Fibonacci retracement resistance as we had expected pulling back down towards last week's lows. I expect dollar bulls to give a strong fight and not surrender as the support at 97.50 is very strong.

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The US dollar index price is below the Ichimoku cloud heading lower towards the recent lows after the rejection at the 38% Fibonacci retracement. Support is found at 97.50 and resistance is seen at 98.70. Breaking above resistance could push the price towards 99-99.20. Breaking below support will push the index towards at least 97.20.

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