FxWirePro:US Dollar Index takes support near 21- day EMA, good to buy on dips
Major support – 101.20 (21- day EMA) Major intraday support –100.60 U.S. Dollar index has taken support near trend line, 21- day EMA and jumped drastically from that level. It is currently trading around 101.94. On the h…
U.S. Dollar index has taken support near trend line, 21- day EMA and jumped drastically from that level. It is currently trading around 101.94.
On the higher side, index has broken 61.8% retracement of 102.26 and 101.22 at 101.87 and is trading slightly above that level .It confirms minor bullishness and a jump till 102.30/102.95 (Jan 1st 2017 high).
The major intraday support is around 101.20 (21- day EMA) and any break below targets 100.60/100/99.25 (23.6% fibo).
Short term bullish invalidation only below 100.60.
It is good to buy on dips around 101.45 with SL around 101 for the TP of 102.25/120.95
