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US Dollar Index breaks minor resistance 100.85, jump till 101.50 likely

  • Major support – 98.86 (61.8% retracement of 95.89 and 103.82).
     
  • Major resistance – 100.70 (55- day EMA).
     
  • DXY facing strong resistance at 100.85 high made on Apr 5th 2017 and any break above confirms minor bullishness. It is currently trading around 100.92.
     
  • 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 100.85 and any close above will take the index till 100.97/101.40.

    It is good to buy on dips around 100.60 with SL around 100 for the TP of 101.40/102.
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