US Dollar Index breaks major support 100.60, targets 99.45
Tuesday, January 17, 2017 12:29 PM UTC
- Major support 100.60
- The U.S dollar index breaks major support at 100.60 and declined till 100.46 at the time of writing. It is currently trading around 100.55.
- Any break below 100.60 confirms major weakness, a decline till 99.45/98 is possible.
- On the higher side minor resistance is around 101.35 (4 H Tenken-Sen) and break above will take the index till 102 (200- 4H EMA)/ 102.55 (61.8% retracement of 103.82 and 100.46)/103.
- Short term bullish invalidation only below 98.
It is good to sell on rallies around 100.65-100.70 with SL around 101.35 for the TP of 99.45