U.S. dollar index suffers from negative pressures - Technical Analysis - 24-12-2015

The dollar's index tried to rise in its short term trading, but fell short of that, bouncing back to remain settled below the crucial resistance of 98.98, which represents the ratio 23.6% of Fibonacci retracement levels for an ascending wave in the short term (from 93.82 to 100.57), along with the continuance of the negative pressure from the simple moving average for the period 50, and with an influx of negative signals from relative power indicators.

 

We therefore expect the index to fall, especially if the central support of 97.99 was breached, targeting thereafter the support of 97.19, which represents the ratio 61.8% of the same retracement levels mentioned earlier.