InstaForex - Analytics

    InstaForex

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    Technical analysis of USDX for July 1, 2016

    The Dollar index remains inside the triangle consolidation pattern. I continue to expect the Dollar index to break to the upside and move towards 99.50 over the coming weeks. I remain bullish in the Dollar.

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    The Dollar index is in a short-term neutral trend. Support is at 95.75-95.60 and resistance is at 96.20-96.45. This price formation suggests that traders should be neutral and wait patiently for a breakout before opening new positions. I believe that the instrument is most likely to break upwards.

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