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    USDX technical analysis for February 12, 2016 2016-02-12

    The US dollar index remains in a bearish trend, but I believe it is time to make an upward reversal today or early next week. I expect the US dollar index to move towards 97 if not higher.

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    The US dollar index is testing short-term resistance at 95.85. A breakout above the channel will open the way to a bounce towards 96.30 and 97. The stochastic oscillator looks oversold and is turning higher. I believe we should see some strength in the US dollar in coming days.

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