FX.co ★ USDX technical analysis for September 24, 2015

The US Dollar Index got rejected at the previous high horizontal resistance as we expected and is pulling back now. The price is likely to move towards 95.25.

Green line - resistance (broken)

Red line - previous high horizontal resistance

The US Dollar Index is pulling back after being rejected at the previous resistance. I expect the pullback to test the Ichimoku cloud and to move, why not, a bit lower towards the kijun-sen support. I prefer to wait in order to enter a long position when this pullback reached my targets.

Red line - resistance

Green line -support

The weekly chart remains inside the bullish flag pattern. The price is also above the weekly cloud support. It is testing the weekly kijun-sen resistance and we would probably will see a rejection soon. Breaking above this level will push the price towards the red trend-line resistance near 97.50.