Major resistance 94.40 (10- day MA)
US dollar index recovered sharply almost more than 50 pips from the low of 93.95 made yesterday. US fed hiked interest rates by 25 bpbs to 2.25%. The Fed’s dot plot expectations shows another rate hike in Dec.
The near term resistance is around 94.74 (20- day MA) and any break above targets 95/95.25. The index should close above 95.75 for further bullishness.
On the lower side, any break below 94.30 (200- H MA) will take the index to next level till 93.95/93.60.
It is good to buy on dips around 94.50-55 with SL around 94.20 for the TP of 95.25.
US dollar index recovered sharply almost more than 50 pips from the low of 93.95 made yesterday. US fed hiked interest rates by 25 bpbs to 2.25%. The Fed’s dot plot expectations shows another rate hike in Dec.
The near term resistance is around 94.74 (20- day MA) and any break above targets 95/95.25. The index should close above 95.75 for further bullishness.
On the lower side, any break below 94.30 (200- H MA) will take the index to next level till 93.95/93.60.
It is good to buy on dips around 94.50-55 with SL around 94.20 for the TP of 95.25.
Trade closed: target reached:
arget achieved at 95.25