FX.co ★ USDX technical analysis for January 21, 2016

The US dollar index remains above short-term support trading sideways. A trend is neutral, but we will see some action soon as market participants are eagerly awaiting Mario Draghi's comments.

The price is above the Ichimoku cloud and still inside an upward sloping red channel I showed yesterday. There is no clear short-term trend while the medium-term trend remains bullish. Resistance is found at 99.30 today.

The daily chart remains bullish as the price is still above the Ichimoku cloud support at 98.80 and still inside the wedge pattern and lower support at 98.50. Resistance is seen at 99.35. If it gets broken, we should expect a move towards 99.80.