FX.co ★ Technical analysis of USDX for December 21, 2016

The Dollar index made another minor pull back towards 103 after making new highs at 103.65. The pull back could extend towards 102-101 but overall trend remains bullish.

The Dollar index is testing short-term resistance at 103.25. A break above it could signal the end of the correction and the start of the next leg up toward 104. Support is at 103.05. If broken could push price toward 102.

Green line - long-term support

On a daily basis, trend remains bullish as price is still inside the bullish channel and making higher highs and higher lows. There are bearish divergence signals from the oscillators that provide a warning for bulls. 101.50 is important short-term support that if broken will change short-term trend to bearish.