The US Dollar Index remains strong as the price is trying to break above the medium-term resistance at 96.70-96.80. The rice is still in a short-term bullish trend with higher highs and higher lows. Important support is at 95 now . So, as long as the price holds above that level, bulls will be in control.
The US Dollar Index is above the short-term ichimoku cloud and above the trend-line support. The trend is bullish. The short-term support is at 95.80. The short-term resistance is seen at 97.
The weekly chart is showing how this week's candle is trying to make a breakout above the trend-line resistance. If bulls manage to break above this resistance, the upside potential for the index could be new highs above 101. Critical long-term support is found at 93.50. If it gets broken, we should expect a correction to unfold towards 90.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via USDX technical analysis for July 7, 2015 . Thanks for your support.
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