FX.co ★ Technical analysis of USDX for December 22, 2016

The US dollar index pulled back yesterday and is testing short-term support. The trend remains bullish in the short term despite the pullback towards 102.80.

Red lines - bullish channel

Blue line - short-term support

The US dollar index is holding above the blue horizontal short-term support at 102.50 while the price is trading inside the bullish red channel and above the Ichimoku cloud in the 4-hour chart.

Green line - long-term support trend line

Oscillators are diverging at overbought levels. The price is above the weekly Ichimoku cloud and above the very important green trend-line support. A weekly trend reversal will be confirmed on a break below the green trend line.