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USDX technical analysis for August 5, 2015

The US Dollar index gave a short-term bullish signal yesterday breaking above the short-term trend-line resistance. The US Dollar Index moved towards short-term higher highs in the important resistance area of 98.-98.20.


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The index remains above the Ichimoku cloud implying that the short-term trend is bullish. Yesterday, we got another bullish signal after a breake above the downward sloping trendline as shown in the 4-hour chart above. We are at important resistance levels now. Critical short-term support is at 97.30.


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Green line - support

The weekly chart above shows the important resistance level we are currently at. A rejection in this area will probably push the US Dollar Index towards the Green trendline support. Important weekly support is seen at 96.70. Bulls do not want a break below that area.

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