Chart pattern formed- Double top
Major resistance- 96
DXY has declined till 95.15 (100 4H EMA) and started to jump from that level. It is currently trading around 95.61.
The major intraday resistance is 95.67 (61.8% retracement of 95.97 and 95.15) and any break above targets 96/96.40 in short-term.
Short term trend is still weak as long as resistance 96 holds.
On the lower side major support is around 95.15 and any break below targets 94.80/94.10 in short-term.
It is good to sell at 95.60-95.65 with SL around 96 for the TP of 95.15/94.80/94.20
Major resistance- 96
DXY has declined till 95.15 (100 4H EMA) and started to jump from that level. It is currently trading around 95.61.
The major intraday resistance is 95.67 (61.8% retracement of 95.97 and 95.15) and any break above targets 96/96.40 in short-term.
Short term trend is still weak as long as resistance 96 holds.
On the lower side major support is around 95.15 and any break below targets 94.80/94.10 in short-term.
It is good to sell at 95.60-95.65 with SL around 96 for the TP of 95.15/94.80/94.20
