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Add as a preferred source on Google FxWirePro:US Dollar Index breaks trend line resistance at 100.50, good to buy on dips Major support – 99.23 (38.2% retracement of 103.82 and 91.92). Major intraday resistance – 100.50 (Trend line joining 103.82 and 102.95). U.S. Dollar index recovered sharply and broken major resistance at 100.50. It is c…
By FxWirePro Team Feb 7, 2017, 12:16 PM UTC
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Major support – 99.23 (38.2% retracement of 103.82 and 91.92).
Major intraday resistance – 100.50 (Trend line joining 103.82 and 102.95).
U.S. Dollar index recovered sharply and broken major resistance at 100.50. It is currently trading around 100.59.
On the higher side, any break above 100.50 (trend line joining 103.82 and 102.95)/100.80 (30- day EMA)/101.46 (50- day MA).
The major support is around 99.23 (38.2% fibo) and any break below targets 98.85/98.30.The minor support stands at 100.05.
Short term bullish invalidation only below 98.
It is good to buy on dips around 100 with SL around 99.25 for the TP of 101.46
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