Breaking News

US Dollar Index

3/21/2016 3:40:53 AM

U.S. dollar index amid negative outlook - Technical Analysis - 21-03-2016

The U.S. dollar index kept falling in the intraday levels with the complete dominance of the downward short-term trend along the trend line, with ongoing negative pressure from the SMA50, while noting the index is moving in an orderly way to register its past losses, hinting at a new downward move, while settling below the resistance of 96.65, and as relative power indicators reached extremely oversold levels compared to the index' upward movement, hinting at the start of a forming negative divergence in the Stochastic indicator as shown below the attached chart.

Therefore we expect more losses to come for the index, as long as the resistance of 95.65 holds on, targeting the support of 93.15.



Trend Bearish