Technicals

Add as a preferred source on Google

US Dollar Index breaks major support at 95, targets 94.10/93

Major support -95 (Aug 2nd low). The index has jumped till 95.99 and started to decline from that level. It is currently trading around 94.80 . US Dollar index breaks major support 95 and declined till 94.76 at the time …

1 min read
US Dollar Index breaks major support at 95, targets 94.10/93
Image from the original EconoTimes article

Read the original article

  • Major support -95 (Aug 2nd low).
     
  • The index has jumped till 95.99 and started to decline from that level.  It is currently trading around 94.80         
        .
  • US Dollar index breaks major support 95 and declined till 94.76 at the time of writing.
     
  • A break below 95 confirms minor weakness a decline till 94.07 (61.8% retracement of 97.57 and 91.92) /93 is possible.
     
  • On the higher side, minor resistance is around 95.10 (100 day MA) and any break above  will take the index to next level till 95.80/96.50.
     
  • Overall bearish invalidation only above 97.60.

It is good to sell on rallies around 95.10 with SL around 95.80 for the TP of 94.07/93

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560