The US Dollar Index broke above the triangle on Friday and we saw a gap up at early trading on Monday with new highs as the main component of the US Dollar Index. The EUR/USD pair moved down due to the Greek referendum announcement and inability of Greece’s governement to reach an agreement with the European institutions and the IMF.
Blue lines- triangle
The US Dollar Index is pulling back towards the tenkan- and kijun-sen support after the gap up earlier today. The price is above the cloud support. Short-term support is at 95-95.30. If is gets broken, we should expect a push even lower towards 94.50.
The weekly chart showed signs of strength last week. The price is above the kijun- and tenkan-sen indicators. The trend is mostly sideways. Support at 93.10 was held and bulls managed to reverse last week’s candle producing a positive one. Weekly resistance is seen at 97.85 and at 97. Weekly support is at 93.50 and 93.10.The material has been provided by InstaForex Company – www.instaforex.com