luke1827

Dollar Index | At Resistance | RSI at 85 on 4H | 1.414 Fib Ext

INDEX:DXY   US DOLLAR CURRENCY INDEX
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Fellow Traders,

Few signs that the US Dollar Index is at resistance.

1. RSI on 4H Chart is at 85.5 which is a resistance level that has previously been rejected off. Twice.
2. Price has extended to a 1.414 Fib Ext level, which is a common level for profit taking and thus potential resistance.

Tread carefully with this in mind as you trade pairs associated with the USD folks.

All the best,
Luke
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