FxWirePro:US Dollar Index downside capped by 50% fibo, good to buy on dips
Major support – 101.63 (50% of retracement of 99.43 and 103.82). The U.S dollar index recovered sharply from the low of 101.71.The index should close below 100.70 for further weakness and it is currently trading around 1…
Major support – 101.63 (50% of retracement of 99.43 and 103.82).
The U.S dollar index recovered sharply from the low of 101.71.The index should close below 100.70 for further weakness and it is currently trading around 102.38.
The index is facing resistance around 103.60 and any break above targets 105.
On the lower side, any break below 101.63 (50% retracement of 99.43 and 103.82) will drag the index down till 100.60.
Short term bullish invalidation only below 98.
It is good to buy on dips around 102.25-102.30 with SL around 101.60 for the TP of 103.65
