The Dollar Index breaks ascending channel’s support – Technical Analysis – 19-11-2015

The US Dollar Index declined to break the short term ascending channel’s support line, hinting the beginning of bearish correctional bias to attempt to seek new ascending low that will allow the price to keep this main trend, noticing that the relative strength indexes are reaching the oversold areas.

Therefore, we expect the decline in the coming trading, targeting 98.45 level as a first support of the correctional levels.