U.S. dollar index jumps higher - Technical Analysis - 01-02-2016
The U.S. dollar index jumped higher at the end of last week, after drawing support from the SMA for the last 50 days period, which gave it positive momentum that pushed it upwards, reaching the resistance of 99.72 which we talked about in our previous analyses, readying to attack it, while noting a venting-off in relative power indicators of the overbought saturation apparent in them, which is a positive signs, along with an overall dominance of the main upward trend in the medium and short term.
Therefore we expect more gains for the greenback's index in the coming trading, especially if it breached the resistance of 99.72, targeting thereafter the pivotal resistance of 100.88.
Trend
Bullish