Ichimoku analysis (Daily chart)
Tenken-Sen - 95.18
Kijun-Sen - 94.98
US dollar index has once again decline after showing a minor jump above 96 level. The index hits high of 96.16 and is currently trading around 95.60. Overall trend is bullish as long as support 94.30 holds.
DXY is facing resistance around 96.40 (trend line resistance) 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 95.40 (10- day MA) and any break below targets 94.98/94.30 (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.
