FxWirePro:US Dollar Index upside capped by 55- day EMA,good to buy on dips
Major support – 98.86 (61.8% retracement of 95.89 and 103.82). Major resistance – 100.70 (55- day EMA). DXY has shown a minor decline after jumping till 100.65.It is currently trading around 100.53. On the lower side, th…
Major support – 98.86 (61.8% retracement of 95.89 and 103.82).
Major resistance – 100.70 (55- day EMA).
DXY has shown a minor decline after jumping till 100.65.It is currently trading around 100.53.
On the lower side, the minor support is around 100 and any break below 100 will drag the index down till 99.25/98.85 in the short term.
The near term resistance is around 100.70 (55 –day EMA) and any break above will take the index till 100.97/101.35 (50% retracement of 102.25 and 98.86).
It is good to buy on dips around 100.10-100.20 with SL around 99.55 for the TP of 101.35/102.
