FxWirePro:US Dollar Index breaks trend line resistance at 101.27, jump till 102.95 likely
Major support – 99.25 Major resistance – 101.27 (trend line joining 100.72 and 101.01). Major intraday support –100.64 (21- day EMA). U.S. Dollar index broken major trend line resistance at 101.27 and jumped slightly fro…
Major resistance – 101.27 (trend line joining 100.72 and 101.01).
Major intraday support –100.64 (21- day EMA).
U.S. Dollar index broken major trend line resistance at 101.27 and jumped slightly from that level. It is currently trading around 101.47.
On the higher side, any close above 101.27 (trend line joining 100.72 and 101.02) will take the index till 101.73/102.06 (61.8% retracement of 103.82 and 99.23)/102.95 (Jan 1st 2017 high).
The major support is around 100.64 (21- day EMA) and any break below targets 100/99.25 (23.6% fibo)/98.85/98.30.
Short term bullish invalidation only below 98.
It is good to buy on dips around 100.60 with SL around 100 for the TP of 101.02/101.75.
