FX.co ★ Technical analysis of USDX for February 22, 2017

The Dollar index continues to move higher as the price is making higher highs and higher lows. The price has reached important short-term resistance and previous highs. A pullback towards the 101-100.50 level is expected before the resumption of the uptrend towards 103.

The Dollar index is trading above the Ichimoku cloud. Short-term important resistance is very close to 101.80. Short-term support is at 101. Trend is bullish in all time frames. Important support that would change short-term trend is at the recent low at 100.40.

Green line - long-term trendline support

Blue line - resistance

The Dollar index is testing resistance at 101.80-102. Breaking above it will open the way for a push towards 103 at least before a bigger pullback. Long-term critical support now remains at 99.25 where the neckline of the potential Head and Shoulder pattern is found. So, the bulls remain in control.