FxWirePro:US Dollar index takes support near 61.8% fibo, good to sell on rallies
Major support – 98.85 (61.8% retracement of 95.89 and 103.82). Major resistance - 100 DXY has taken support near 61.8% fibo and jumped slightly till 99.35 from that level. It is currently trading around 99.16. On the low…
Major support – 98.85 (61.8% retracement of 95.89 and 103.82).
Major resistance - 100
DXY has taken support near 61.8% fibo and jumped slightly till 99.35 from that level. It is currently trading around 99.16.
On the lower side, any break below 98.85 will drag the index down till 98.65 (200- day MA)/98 in the short term.
The near term resistance is around 100 and any break above will take the index till 100.40 (21- day EMA) /100.77 (55- day EMA).The near term resistance is around 99.65 (23.6% retracement of 102.26 and 98.86).
It is good to sell on rallies around 99.25-99.30 with SL around 99.60 for the TP of 98.60/98
