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    USDX technical analysis for March 10, 2016 2016-03-10

    The US dollar index has reversed off the 50% retracement, but the price is still below important trend-change resistance. The level of 98.50 presents a critical resistance, and if bulls manage to break above it, then the bullish trend will strengthen and the index will move towards 100.

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    Red line -trend line support

    In the weekly chart above, we can see how the index has been trading sideways for several months now. The red line is important support. The sideways consolidation is likely to break to the upside, but bulls should use the trend-line support as stop.


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