U.S. dollar index starts recovering. - Technical Analysis. - 12-01-2016
U.S. dollar index resumed its rise in the intraday levels trading, after floundering previously in the short-term trading, leaning on the crucial support of 98.30, along with the support of the upward trend line, and with additional positive support from the simple moving average for the last 50 days period, giving it positive momentum that helped it bounce higher as shown in the attached chart, and with an influx of positive signals from relative power indicators like the Stochastic as shown below the attached chart.
Therefore we expect the index to gain ground in the coming short-term trading, targeting the resistance of 99.72.
Trend
Bullish