The index has declined slightly after showing a minor jump till 98.98 at the time of writing. The index formed triple bottom around 98.70 and any break below will drag the DXY down till 98.23 (161.8% retracement of 98.70…
The index has declined slightly after showing a minor jump till 98.98 at the time of writing. The index formed triple bottom around 98.70 and any break below will drag the DXY down till 98.23 (161.8% retracement of 98.70 and 99.46)/97.33 (161.8% retracement of 98.86 and 101.34). On the higher side, near term resistance is around 99.18 (200- day MA) and any close above will take the index till 100.03 (Apr 21st high)/100.33 (55- EMA).
Minor trend reversal only above 100.05.The near term support is around 98.70 and any break below will drag the index down till 98.
It is good to sell below 98.70 with SL around 99.20 for the TP of 98.25/98.
