Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: US Dollar index faces strong resistance at 200- day MA, good to buy on dips

  • Major resistance – 96 (200- day MA).
     
  • Major support – 95.
     
  • The index jumped after breaking 21- day MA at 95.46 and is currently trading around 95.84.
     
  • DXY is facing strong resistance at 200- day MA and any break above targets 96.35/97/97.60 level.
     
  • On the lower side, major support is around 94.75 (61.8% retracement of 93.02 and 97.57) and any break below will drag the pair till 94.07 (61.8% retracement of 91.92 and 97.57)/93.02 (Jun 23rd low).
     
  • Overall trend reversal only below 94.08 (61.8% retracement of 91.92 and 97.57).

It is good to buy on dips around 95.50 with SL around 95 for the TP of 96/96.35/97

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.