US Dollar Index trades slightly above 100,jump till 100.95 likely
Major support – 98.86 (61.8% retracement of 95.89 and 103.82). Major resistance – 100.40 DXY has taken support near 61.8% fibo and jumped sharply above 100 level. The index recovered till 100.19 at the time of writing an…
Major support – 98.86 (61.8% retracement of 95.89 and 103.82).
Major resistance – 100.40
DXY has taken support near 61.8% fibo and jumped sharply above 100 level. The index recovered till 100.19 at the time of writing and it is currently trading around 100.06.
On the lower side, any break below 98.86 will drag the index down till 98.59/98 in the short term.The minor support is around 99.77/99.25.
The near term resistance is around 100.40 (21 –day EMA) and any break above will take the index till 100. 70 (55- day EMA)/100.97.
It is good to buy on dips around 100 with SL around 99.70 for the TP of 100.75/101
