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USDX technical analysis for March 1, 2016 2016-03-01

The Dollar index continues to trade inside the bullish channel and has passed above the 61.8% Fibonacci retracement. The trend remains bullish. Overbought conditions in the oscillators provide a warning for bulls to be cautious.

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With price making higher highs and higher lows inside the bullish channel, trend remains bullish. Price remains above the Ichimoku cloud. Price has broken above the 61.8% Fibonacci retracement. But bulls need to be extra cautious as a pullback is imminent. Important short-term support is at 97.75. Next support are is at 97.25-96.70.

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