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#USDX technical analysis for April 2, 2015

The Dollar index continues to slide lower and is in a neutral short-term trend now. Long-term trend remains bullish as long as the price is above 96. We get a new buy signal above 98.66 that could push the index to its recent highs.


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The Dollar index is back inside the Ichimoku cloud in the H4 chart and this means that there is no clear trend and we are in a neutral trend. Support is at 97 and resistance is at 98.66. Short-term resistance is at 98.30. If it gets broken, we would get the first short-term reversal sign. On the other hand, a break below 97 is going to be a bearish signal that could put recent lows to the test.


usdxd.jpg


The weekly chart remains inside the upward sloping channel. The long-term trend remains bullish. Weekly chart remains above tenkan-sen. This weeks high is important resistance for bulls that must break immediate continuation of the uptrend.


The material has been provided by InstaForex Company - www.instaforex.com