U.S. dollar index readies to attack an important resistance. - Technical Analysis - 05-01-2016

U.S. dollar index made gains in its short-term trading, along with the continuing positive support of the simple moving average for the period 50, succeeding thereafter of breaching the resistance of 98.89, which represents the ratio 50% of the Fibonacci retracement levels for a descending wave in the short term (from 100.57 to 97.22), settling above it for the moment, and readying to attack the resistance of 99.29, which represents the ratio 61.8%.

 

Therefore we expect more gains for the index, targeting the crucial resistance of 99.78, which represents the ratio 76.4% of the same retracement levels, but it'll have to breach the resistance of 99.29 first.