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15.08.2014 11:16 AM
#USDX Technical analysis for August 15, 2014

The Dollar index remains near its highs. The upward sloping channel is being challenged. The short-term uptrend is in danger. Bulls should be very cautious as we see increasing chances of a pull back towards 80.50.

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The short-term chart remains bullish as long as the price is above 81.35. Resistance at 81.70 is also important. If broken, the index will push higher towards 82. A short-term trend remains bullish.

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The daily trend remains bullish as long as the price is inside the short-term upward sloping channel that is tested today at 81.55. If day closes below 81.50, this will be a bearish sign that more dollar weakness should be expected.

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