US Dollar Index breaks minor trend line resistance, jump till 98.10 likely
DXY has broken minor trend line resistance at 97.38 and closed slightly above that level yesterday. The pair jumped till 97.65 at the time of writing and is currently trading around 97.64. On the higher side, near term r…
DXY has broken minor trend line resistance at 97.38 and closed slightly above that level yesterday. The pair jumped till 97.65 at the time of writing and is currently trading around 97.64.
On the higher side, near term resistance is around 98.07 (May 18th high) and any break above will take the index till 98.88 (89- 4H EMA)/99.25.
On the lower side, major support is around 96.40 (61.8% fibo) and any break below will take the index down till 95.90/95.
Short term bullish invalidation only below 95.90.
It is good to buy on dips around 97.50 with SL around 97 for the TP of 98.07/98.80.
