US Dollar Index breaks major support 97, targets 95.60
Major resistance -97.60 (55 day 4 H EMA)
Major support – 97
DXY has broken major support 97 and declined till 96.90 at the time of writing. It is currently trading around 96.94.
Short term trend is bearish as long as resistance 97.60 holds.
On the lower side any break below 97 confirms minor trend reversal, a decline till 96.35/95.60 is possible .
Any break above major resistance 97.60 will take the index till 98.05/98.60.
It is good to sell on rallies around 97-97.10 with SL around 97.60 for the TP of 96.35/95.60
Major support – 97
DXY has broken major support 97 and declined till 96.90 at the time of writing. It is currently trading around 96.94.
Short term trend is bearish as long as resistance 97.60 holds.
On the lower side any break below 97 confirms minor trend reversal, a decline till 96.35/95.60 is possible .
Any break above major resistance 97.60 will take the index till 98.05/98.60.
It is good to sell on rallies around 97-97.10 with SL around 97.60 for the TP of 96.35/95.60