The Dollar Index amid positive outlooks – Technical Analysis – 12-11-2015

The US Dollar Index declined recently to retrace the main short term bullish trend, seeking new bottom to consolidate above it and rally upwards again, trading inside an ascending channel, supported by the moving average 50, noticing the relative strength indexes reach to the oversold areas, besides forming positive divergence on stochastic.

Therefore, we expect the Index to rise again conditioned by holding above 98.45 support, targeting 100.25 key resistance