Ichimoku cloud indicator analysis of USDX for March 6, 2018

The Dollar index remains under pressure. Price remains below the important resistance of 90.50 but still respects the 4-hour cloud support.

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Black rectangle - resistance

Price remains above the Ichimoku cloud in the 4-hour chart. Price needs to break the 90.50 resistance for more upside to be expected towards 91.50-92. Support at 89.80 is very important. If price breaks inside the cloud trend will change to neutral.

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Blue line - resistance

On a daily basis the Dollar index remains in a bearish trend below the daily cloud. Support is at 89.60 and resistance at 90.40-90.50. If price manages to break above 90.50 daily trend will change to neutral. This will have longer-term bullish implications for the index.

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