Dash/USD pauses 5 consecutive sessions of downside.
Trendline support at 1120 levels. We see minor weakness on break below.
Next major support below 1120 lies at 20-DMA at 1008.85.
Violation there could see test of 850 (major trendline) and then 50-DMA at 728.
Technical studies are not supportive of major downside. RSI holds above 50 levels and is turning north.
ADX has also not been supportive of the downside, we still see +ve DMI dominance.
5-DMA is immediate resistance on the upside and break above could see resumption of upside.
Support levels - 1100 (38.2% Fib retrace of 252.50 to 1625 rally), 1008 (20-DMA), 850 (trendline)
Resistance levels - 1178.71 (5-DMA), 1250 (Dec 17 high), 1301 (23.6% Fib)
Go long on breakout above 5-DMA, SL: 1080, TP: 1250/ 1300/ 1420.
Trendline support at 1120 levels. We see minor weakness on break below.
Next major support below 1120 lies at 20-DMA at 1008.85.
Violation there could see test of 850 (major trendline) and then 50-DMA at 728.
Technical studies are not supportive of major downside. RSI holds above 50 levels and is turning north.
ADX has also not been supportive of the downside, we still see +ve DMI dominance.
5-DMA is immediate resistance on the upside and break above could see resumption of upside.
Support levels - 1100 (38.2% Fib retrace of 252.50 to 1625 rally), 1008 (20-DMA), 850 (trendline)
Resistance levels - 1178.71 (5-DMA), 1250 (Dec 17 high), 1301 (23.6% Fib)
Go long on breakout above 5-DMA, SL: 1080, TP: 1250/ 1300/ 1420.