US Dollar index breaks major support 100.60, decline till 100/9.255 likely
Major support – 100.60 DXY breaks the low of 101.01 formed on Mar 13th 2017 and declined till 100.43 after FOMC meeting. The index was facing major support at 100.60 low formed on Feb 24th (100.66) and Feb 28th (100.69) …
DXY breaks the low of 101.01 formed on Mar 13th 2017 and declined till 100.43 after FOMC meeting.
The index was facing major support at 100.60 low formed on Feb 24th (100.66) and Feb 28th (100.69) and any indicative close below targets 100/99.25 (Feb 2nd 2017 low).
On the higher side , near term resistance is around 100.95 (100- day MA) and any break above will take the index till 101.34 (21- day EMA)/101.78/102.25 (Mar 9th 2017 high).
Overall bullish invalidation only below 98 level.
It is good to sell on rallies around 100.75-100.80 with SL around 101.35 for the TP of 100/99.25
