The US Dollar Index remains under resistance levels and in a bearish trend at least for the short-term. Critical support is at 94.60 and 93.10 while important resistance is found at 95.80 and 96.20.
Red line – resistance
The price remains below the red trendline and below the cloud resistance in the 4-hour chart. The trend is bearish as the price is reaching lower lows and lower highs. Short-term resistance is found at 95.20. The next one is at 95.80. Support is seen at 94.60-94.40.
The weekly chart remains bearish. The price is testing the kijun-sen weekly support and a close below that level will increase the chances of a push lower towards the cloud support and 50% retracement. Critical support is at 93.10. Breaking below it will confirm a target at 90.The material has been provided by InstaForex Company – www.instaforex.com