Technical analysis of USDX for December 13, 2016 - Forex247

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Tuesday, December 13, 2016

Technical analysis of USDX for December 13, 2016

The Dollar index has found support at 101 and may have finished with the short-term pullback. Trend remains bullish as long as price is above 99.44 and new highs could be expected tomorrow after the FED meeting and the announcement by Janet Yellen.

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Red line- resistnace

Blue line -support

The Dollar index is bouncing off the Ichimoku cloud short-term support. Price is above the cloud. Trend remains bullish. 101.80 is resistance. If broken, we should expect a move towards 103. The rate hike is already priced in. However what Janet Yellen tells will be in the center of attention.

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Green line - trend line support

The Dollar index is at weekly resistance. As long as price is above the low of last week at 99.44, trend will remain bullish targeting 103-104. As long as price is above the long-term green trend line support trend is bullish expecting a move above 104.

The material has been provided by InstaForex Company - www.instaforex.com

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