FxWirePro: DASH/USD breaks 200-DMA at 516, good to go short on close below

• DASH/USD is extending weakness below 200-DMA, bias lower.
   
• Technical studies are highly bearish. 5 and 20 DMA are sharply lower. Bollinger bands are widening.
   
• Stochs and RSI show bearish momentum and MACD is deeply in negative territory. We see -ve DMI dominance and ADX supports trend lower.
   
• Price action has broken 78.6% Fibo and 200-DMA, is on track to test 88.6% Fibo at 408 levels.
   
• On the flipside, retrace and close above 20-DMA (currently at 732) invalidates bearish bias.

Support levels - 430 (Feb 2 low), 408 (88.6% Fib retrace of 252 to 1625 rally), 310 (Nov 12 lows)

Resistance levels - 546 (78.6% Fib retrace of 252 to 1625 rally), 575 (5-DMA), 732 (20-DMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-DASH-USD-trades-with-bearish-bias-eyes-200-DMA-at-510-1130037) has hit all targets.

Recommendation: Book partial profits, trail stop loss to 580, watch out for close below 200-DMA for weakness. Target 430/ 408/ 310.

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