Ichimoku analysis (Daily chart)
Tenken-Sen - 95.03
Kijun-Sen - 94.96
US dollar index has taken support near 7- day MA and shown a jump of more than 50 pips . The index hits high of 96.16 and is currently trading around 96.02. Overall trend is bullish as long as support 94.30 holds.
DXY is facing resistance around 96.20 and any violation above targets 96.60/97. Any close above 97 confirms that short down trend is over at 93.83 and further jump till 98 is possible.
On the lower side, near term support is around 95.50 (7- day MA) and any break below targets 95.24 (10-day MA)/94.89/94.30 (23.6% fib).
It is good to buy on dips around 95.50-60 with SL around 95 for the TP of 97/97.50.
