FX.co ★ #USDX Analysis for November 11, 2013

The Dollar index remains in an uptrend as prices continue to make higher highs and higher lows. Short-term resistance is found at 81.40-50 price range. Short-term support is found at 80.75.

The upward sloping trend line remains below the trading price and uptrend is supported. The bulls should expect the prices to continue to rise as long as the prices trade above 80.75-60, which was the previous resistance area and now support. 80.35 is the final stop for bullish positions.

On the other hand, the bears are starting to worry since both MA are changing their slopes to positive and the prices are now challenging the 100-day MA. The prices have found it difficult to break above that MA and this can be seen in the chart above, where the prices were rejected twice when hitting that MA. Trend remains up as long as the prices trade above 80.75-80.45 support area. Pullbacks are supported by buying and it seems that there is more upside potential for the Dollar index.