Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- DXY Daily Outlook

Major support- 100

 

Major resistance- 102

 

DXY showed a minor pullback due to short covering. It hi a high of 101.16 and is currently trading around 101.12.

 

Market eyes US GDP and Initial jobless claims for further direction.

 

According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep decreased to 65.50% from 68% a week ago.

 

On the lower side, near-term support is around 100.60 and the violation below will drag the index down to 100/99.57/99/98. Significant resistance is around 101.20, and breach above targets 101.40/101.60/102. Overall bearish invalidation bearish invalidation only above  103.

 

It is good to sell on rallies around 101.20 with SL around 101.60 for a TP of  99.57/98..

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.