Technical analysis of USDX for June 27, 2016

This week has started with a gap up as the Dollar is opening the week with a bullish note. We could see a pullback today or even tomorrow in order to fill the gap but the overall trend remains bullish.

The Dollar index retraced the 50% of the rise and is now moving higher once again. Price is making higher highs and higher lows. The breakout above 96 is an important bullish medium-term sign. Short-term support is found at 95.66 where the gap gets filled.

This week's candle is trading above the kijun-sen (yellow line indicator) and inside the weekly Kumo (cloud). A break above the cloud will be a bullish sign that will imply new highs will be seen above 101-102. Trend remains bullish as long as price is above 93.The material has been provided by InstaForex Company - www.instaforex.com