Technical analysis on USDX for April 16, 2018

Bears remain in control of the Dollar index as long as the price is below the 90.30-90 level. The trend remains bearish as price is still below the Ichimoku cloud. The price is trying to break back above the previously broken downward sloping resistance trend line at 89.85.


Blue lines - trading range

On a daily basis, there is no trend change as price remains inside the trading range and below the Daily cloud. Bulls need to overcome the 90-90.30 resistance for a possible bounce towards 91.70. On the other hand, a rejection here below the cloud and a break below 89.30 will open the way for a push back to 2018 lows.

The material has been provided by InstaForex Company -