Ichimoku analysis (Daily chart)
Tenken-Sen -94.59
Kijun-Sen - 94.77
Overall trend: Slightly bullish.
DXY has recovered sharply more than 150 pips from low of 93.84 in previous week.The index has broken major resistance at 94.68 (100- day MA) and jumped till 95.37. The next near term resistance is around 95.40 (50% fib) and any break above targets 95.75/ 96.25.
On the lower side, near term support is around 94.65 (100- day MA) and any break below will drag the pair to 94/93.70. DXY should break below 93.70 for further weakness.
It is good to buy on dips around 94.60-65 with SL around 94.20 for the TP of 95.75/96.25.
