Ichimoku Analysis (1-hour chart)
Tenken-Sen- 93.67
Kijun-Sen- 93.17
US Dollar index jumped more than 50 pips on better than expected US durable goods orders. The core orders for Aug came at 0.4% vs forecast of 1.0%. But core capital goods orders beat street expectations due to an increase in demand for machinery, primary metals, computer. It hits an intraday high of 94.74 and is currently trading around 94.70.
On the flipside, near-term support is around 94.20, any violation below targets 93.80/93.40/93/92.66. Significant bearishness only if it breaks below 91.55.
The index is strong resistance at 95.20, an indicative break beyond will take the index till 95.70/96.05.
It is good to buy on dips around 9 with SL around 94 for TP of 91.52.
