US Dollar Index breaks major resistance 101.75, jump till 102.95 likely
Wednesday, March 1, 2017 12:52 PM UTC
- Major support – 99.25
- Major resistance – 101.75
- Major intraday support –100.60
- U.S. Dollar index has broken major resistance 101.75 and jumped till 101.78 at the time ofwriting.It is currently trading around 101.75.
- On the higher side, major resistance is around 101.75 and any break above will take the index till 102.06 (61.8% retracement of 103.82 and 99.23)/102.95 (Jan 1st 2017 high).
- The major intraday support is around 101.11 (200- H MA) and any break below targets 100.60//100/99.25 (23.6% fibo).
- Short term bullish invalidation only below 98.
It is good to buy on dips around 101.60101.65 with SL around 101.10 for the TP of 102.95