themarketzone

Dollar stuck between MAs as investors digest NFP

TVC:DXY   US Dollar Currency Index
The Dollar Index             declined this week after hitting its 200 days MA.
Following NFP, the Dollar spiked down to test the Fast MA line and a broken downtrend line - Two elements that should have acted as support - and they did.

A breakout above 96$ will lead for extended rally towards 98$ and maybe even 100$ to complete a bearish Bat .
A breakdown below 95$ will lead to a re-test of the bottom of the trading range - 94$.

For now we are stuck between 95 and 96

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