Dollar index eyeing falling trend line resistance
Resistance – 95.50, 95.75, 96.15
Support – 95.20-95.15, 94.94, 94.65
Support – 95.20-95.15, 94.94, 94.65
- DXY’s move back above daily 5-MA followed by a break above 95.33 levels amid bullish daily RSI indicates the index could be heading higher to 95.75 levels, which is a falling trend line resistance on the daily chart.
- A day end closing above 95.75 would expose 96.16 levels (monthly 5-MA).
- Conversely, rejection at trend line resistance followed by a break below 95.20 levels on day end closing basis could signal the corrective rally from May 3 low of 91.92 has ended.
