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FxWirePro: DXY Trade Idea

Major resistance  97.40 (trend line joining 95.15 and 96.98)

 

DXY is showing minor sell-off after a minor jump above 97. The index hits high of 97.20 and is currently trading around 96.56.

 

The near term support is around 96.35 (10- day MA) and any violation below targets 95.90 (20- day MA)/95.40. Minor weakness below 95.05 (89- day EMA).

 

The major resistance is around 97.40 and any break above targets 98/98.60.

 

It is good to sell on rallies around 96.75-80 with SL around 97.20 for the TP of 95.10.

 

Resistance

 

R1- 97.40

R2 - 98

R3- 98.60

Support               

 

S1- 96.35

S2- 95.90

 

S3- 95.40

 

 

 

 

 

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