Major intraday support –100.60 (24th Feb 2017 low). U.S. Dollar index has shown a mild jump after declining till 101.01. It is currently trading around 101.62. On the higher side, next immediate resistance is around 102.…
Major intraday support –100.60 (24th Feb 2017 low).
U.S. Dollar index has shown a mild jump after declining till 101.01. It is currently trading around 101.62.
On the higher side, next immediate resistance is around 102.26 (Mar 2nd 2017 high) and any break above will take the index till 102.95 (Jan 1st 2017 high). The minor resistance is around 101.50/102.06.
The near term support is around 100.86 (100- day MA) and any break below targets 100.60. Any break below 100.60 confirms major trend reversal, a decline till 99.25.
Short term bullish invalidation only below 98.
It is good to buy on dips around 101.35-40 with SL around 101 for the TP of 102.25
