US Dollar index faces trend line resistance at 96.40, break above targets 97.60
Major resistance – 96.40 (trend line joining 96.14 and 96.31 ). Major support – 95. The index breaks above 200- day MA and jumped till 96.31 at the time of writing. It is currently trading around 96.18. On the higher sid…
Major resistance – 96.40 (trend line joining 96.14 and 96.31 ).
Major support – 95.
The index breaks above 200- day MA and jumped till 96.31 at the time of writing. It is currently trading around 96.18.
On the higher side, resistance is around 96.40 and any close above targets 97/97.60.
Short term weakness only below 95.
On the lower side, major support is around 95.45(21- day MA) and break below targets 94.75 (61.8% retracement of 93.02 and 97.57) /94.07 (61.8% retracement of 91.92 and 97.57).
Overall trend reversal only below 94.08 (61.8% retracement of 91.92 and 97.57).
It is good to buy on dips around 95.80 with SL around 95 for the TP of 96.40/97.60.
