FxWirePro: U.S Dollar Index downside capped by 7- day EMA, good to buy on dips
Major resistance – 103.60 Major support – 102.30 (7- day EMA). U.S Dollar Index taken support near 7 – day EMA and started to jump from that level. It is currently trading around 103.42. Any close below 7- day EMA will d…
U.S Dollar Index taken support near 7 – day EMA and started to jump from that level. It is currently trading around 103.42.
Any close below 7- day EMA will drag the pair down till 101.65 (10- day MA) /101.37 (21- day MA). Minor weakness can be seen only below 100.65. Break below targets 99.43/98.
On the higher side any break above 103.60 will take the pair till 104.20 (161.8% retracement of 103.56 and 102.52)/105.
It is good to buy on dips around 103.25-103.30 with SL around 102.30 for the TP of 104.20/105.
