Major support – 98.86 (61.8% retracement of 95.89 and 103.82). Major resistance – 101.34 (50% retracement of 102.25 and 98.86). DXY has shown a mild jump till 100.61 and started to decline from that level. The index brok…
Major support – 98.86 (61.8% retracement of 95.89 and 103.82).
Major resistance – 101.34 (50% retracement of 102.25 and 98.86).
DXY has shown a mild jump till 100.61 and started to decline from that level. The index broken major support 100 and declined till 99.96 at the time of writing. It is currently trading around 100.
On the lower side, any break below 100 confirms minor weakness, a decline till 99.25/98.85 in the short term.
The near term resistance is around 100.70 (55- day EMA) and any break above will take the index till 101.34/101.97/102.25.
It is good to sell on rallies around 100.05-100.10 with SL around 100.60 for the TP of 99.25/98.86
