FX.co ★ Technical analysis of USDX for June 08, 2015

Strong employment data from the US gave momentym to the US Dollar Index.

The US Dollar Index hit a high of 96.91, but was unable to close above 50Dsma. The Index rejected at 50dsma on a closing basis twice . Mild bearish signals on the USDX and USD pairs were generated. The Index is forming a mild distribution pattern. Bulls must close above 96.55 today to erase the bearish view. On a daily basis, the Index must close above 97.80, which was 61.8 FB entire fall. The Index managed to close above 20Wsma. Support is found at 96.10 and 95.00.