USDX technical analysis for January 11, 2016 Market Analysis Review

The Dollar index is trading around support although it has broken below 98.30 support earlier today. I'm bearish the Dollar index expecting a test of 97 at least.

Blue line - trend line support

The Dollar index is testing support of 98.30-98. A break below this level will bring in more sellers and push price towards 97 at least. Resistance is at 100. Shorter-term resistance is at 99.20.

The Dollar index has entered the Ichimoku cloud neutral area and is trying to break above it again. Resistance by the daily kijun-sen (yellow line indicator) is at 98.80. Support is at 98.20. A new low will push price towards 97. Otherwise it will not be a surprise to see recent high at 99.60 re-tested.The material has been provided by InstaForex Company - www.instaforex.com

For detail explanation and best discovery on daily market trends and news you may visit via USDX technical analysis for January 11, 2016 . Thanks for your support.