U.S dollar index has broken major support at 95.47 low made on Jun 30th 2017 and declined till 95.09 on Friday after weaker than expected U.S economic data. It is currently trading around 95.14. Intraday trend is weak as…
U.S dollar index has broken major support at 95.47 low made on Jun 30th 2017 and declined till 95.09 on Friday after weaker than expected U.S economic data. It is currently trading around 95.14.
Intraday trend is weak as long as 95.85 (200- HMA) holds. The index also trading slightly below Tenken-Sen (95.23) and kijun –Sen (95.37).
On the lower side, 95 will be acting as psychological support and any close below 95 will drag the index till 94.60/94.20 in the short term.
Short term bearish invalidation only above 97.87.
It is good to sell on rallies around 95.35-95.40 with SL around 96 for the TP of 94.10.
