Ichimoku Analysis (Daily chart)
Tenken-Sen- 93.39
Kijun-Sen- 92.81
US Dollar index continues to trade higher for 3rd consecutive days. The US economic data came mixed with the Flash manufacturing index at 53.5 vs forecast of 52.5 and Services PMI surged to 54.6 compares to the estimate of 54.50. It hits an intraday high of 94.31 and is currently trading around 94.21.
On the flipside, near-term support is around 93.80, any violation below targets 93.40/93/92.66. Significant bearishness only if it breaks below 91.55.
The index is strong resistance at 94.40, an indicative break beyond will take the index till 95/95.70.
It is good to buy on dips around with SL around 94 for TP of 91.52.
