FXCM dollar index – broke above descending wedge weekly charts

The index broke above descending wedge on the weekly, and the daily charts and above the previous daily and weekly high. The first target for this breakout is at 1.272 FIB extension around 11 900 the second target is at 1.618 FIB extension around 11 960. On the other hand, if the price breaks below 11 670, it will resume the bearish daily trend and send the index back to the previous low at 11 567.

Daily chart:

Weekly chart: