Major resistance- 94
Ichimoku Analysis (4-hour chart)
Tenken-Sen- 93.19
Kijun-Sen- 93.19
US Dollar index continues to trade weak after a minor jump to 93.59. The jump came after not so dovish Fed policy statement. The US economic data came mixed with positive jobless claims and weak housing data. The number of people who filed for unemployment benefits declined by 33000 to 86000 in the week ended Sep 12th. The housing starts and building permits came much weak than the estimate. It hits an intraday low of 93.05 and is currently trading around 93.11.
On the flipside, near-term support is around 92.66, any violation below targets 92.52/92. Significant bearishness only if it breaks below 91.55.
The index is strong resistance at 94, an indicative break beyond will take the index till 94.85/96.05.
It is good to sell on rallies around 93.25-30 with SL around 94 for TP of 91.52.
