US Dollar Index breaks minor resistance 100.85, jump till 101.50 likely
Friday, April 7, 2017 1:10 PM UTC
- 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.