Short term trend – Bearish
Intraday trend –Bearish
Ichimoku Analysis (1-Hour chart)
Tenken-Sen- 92.21
Kijun-Sen- 92.17
US Dollar index has shown minor pullback above 92 levels after hitting a low of 91.94 on Friday. The dismal US nonfarm payroll data has dragged the US dollar down sharply. The index was one of the worst performers in the past three weeks and lost 2% on board-based US dollar selling. It hits an intraday high of 92.31 and is currently trading around 92.20.
The near-term resistance is around 92.60, any convincing close above confirms minor bullishness. A jump to 93/93.60 is possible.
On the lower side, immediate support stands at 91.50, any indicative break below will take the index to 91/90.63/90.
Ichimoku analysis- DXY is trading slightly above 4-hour Tenken-Sen, Kijun –Sen, and cloud.
Indicator (4 Hour chart)
CAM indicator – Slightly Bullish
Directional movement index –Neutral
It is good to sell on rallies around 92.40-45 with SL around 92.75 for a TP of 91.78.
