The US Dollar Index has moved higher again after a false break down below the rising trend line support around 9560.00. Price action has found resistance at the 50 period 4 hour moving average around 9637.40 and the price of the index has backed away from this level. A break above the level may indicate a desire to test 9650.00 followed by the 9671.00 area. Further on from this area, the lower highs at 9687.00 and 9688.65 may be resistive but a push past these levels might target 9700.00 and the high at 9716.80.
Support around the 100 period moving average at 9616.80 has been tested earlier with price getting close but not reaching 6000.00. This level may help price stay above the rising support trend line and the 9587.60 support level. The 200 period moving average is complimenting the trend line at 9574.50 and 9568.00 respectively. A break down under this line may result in a test on the previous higher low at 9516.75. Below this level 9500.00 comes in focus with a loss of this level targeting the low at 9446.90.
The Silver 4 hour chart is showing how the price has tested its 50 and 200 period moving averages and is in a range between the two indicators. A break above the 200 period MA at 14.50 may look to retest the level after resistance is found. This is due to the 14.50 level being used as support and resistance in the past. A break higher may push up to 14.70, a level which price has struggled to remain above. The high on the chart is found at 14.92 and the rejection of this level led to a sharp decline to 13.90. The 15.00 level remains a target for buyers followed by 15.40.
Support for the commodity can be seen at 14.28 followed by the 50 period moving average at 14.23. The 100 period is being used as a median line and a rejection of this line may indicate a move in the offing. Below 14.20 support has gathered around 14.10 and provided shoulders for the move lower. A loss of this level leaves traders with 14.00 and the low at 13.90 followed by 13.75 and 13.50.