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USDX technical analysis for November 12, 2015

The US dollar index moved towards the short-term support area we mentioned yesterday at 98.65. The price is bouncing towards the downward sloping resistance again. Medium- and long-term trends remain bullish.


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Blue lines - bullish channel

The US dollar index remains inside the bullish channel and above the Ichimoku cloud. The price bounced off the kijun-sen at 98.65 and is testing the resistance at 99-99.10. Breaking below 98.65 will push the index towards 98.30 and this is the most probable outcome in my opinion.


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