Ichimoku Analysis (1-hour chart)
Tenken-Sen- 92.79
Kijun-Sen- 92.72
US Dollar index has halted its minor uptrend after hitting a high of 92.968. The number of people filed for unemployment benefits declined by 55000 to 787000 in the week ended Oct 17 compared to a forecast of 86000. The conference board leading economic activity came at 0.7% slightly less compared to the revised 1.4% in August. It hits an intraday low of 92.798 and is currently trading around 92.913.
On the higher side, near-term resistance is around 93, any convincing violation above targets 93.30/93.75/94. Significant bullishness only if it breaks above 94.
The index is facing strong support at 92.47, an indicative break below will take the index till 92/91.74. Minor bullish continuation only below 91.70.
It is good to buy above 93 with SL around 92.78 for the TP of 93.40.
