InstaForex - Analytics

    InstaForex

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    USDX technical analysis for March 24, 2016 2016-03-24

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    Price is trending higher inside the bullish red channel and above the Ichimoku cloud. I expect one more final push higher towards 96.50 before reversing lower. Support is at 96.10. If price broke the support level, the pull back will have started.

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    In the daily chart above, we see that price is still inside the trading range it has been in for at least a year now. In the shorter-term prospective price remains below the Kumo (cloud) while it is making lower lows and lower highs since the past November. Stochastic is turning upwards from oversold levels so we could see some more upside over the coming days.


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