Major resistance – 93.85 (trend line joining 95.15 and 94.20). US Dollar index has trend line support at 93.05 after a week of consolidation. The index was trading in narrow range between 93.16 and 93.56 for the past on …
Major resistance – 93.85 (trend line joining 95.15 and 94.20).
US Dollar index has trend line support at 93.05 after a week of consolidation. The index was trading in narrow range between 93.16 and 93.56 for the past on week on account Christmas long weekend. The index hits low of 93 at the time of writing and is currently trading around 93.05.
On the higher side, near term resistance is around 93.56 (200- 4H EMA) and any break above will take the index till 94.20/95.15. Short term bullishness can be seen only above 95.20 level.
The major support is around 93 and any close below will drag the index till 92.50/91.95. The break below 91.02 (Sep 8th low) will drag the index further till 90.
It is good to sell on rallies around 93.15-93.20 with SL around 93.56 for the TP of 92.
