U.S dollar index has broken major support of 93.85 low made on Jul 21st 2017 low and declined till 93.64 at the time of writing. It is currently trading around 93.79. In the daily chart, index upside capped by 10- day MA…
U.S dollar index has broken major support of 93.85 low made on Jul 21st 2017 low and declined till 93.64 at the time of writing. It is currently trading around 93.79.
In the daily chart, index upside capped by 10- day MA at 94.92 and any break above will take the DXY till 95.44 (21- EMA)/96.69 (55- day EMA).
The minor resistance is around 94.35 (5- day MA).
On the lower side, any daily close below 94 will drag the index till 93 in the short term.
Short term bearish invalidation only above 97.87.
It is good to sell on rallies around 94 with SL around 94.60 for the TP of 93.
