US Dollar index trades below 55 day EMA, targets 95/94.10
Major resistance -96.60 (200 day MA).
The index has made a minor temporary top at 96.52 and started to decline from that level. It is currently trading around 95.61.
US Dollar index breaks major support 95.80 at 55 day EMA and declined till 95.58 at the time of writing.
A break below 95.80 confirms minor weakness a decline till 95/94.07 (61.8% retracement of 97.57 and 91.92) is possible.
On the higher side, any break above 96.60 will take the index to next level till 97/97.60. The minor resistance is around 96.28.
Overall bearish invalidation only above 97.60.
It is good to sell on rallies around 95.85-95.90 with SL around 96.60 for the TP of 95/94.10
The index has made a minor temporary top at 96.52 and started to decline from that level. It is currently trading around 95.61.
US Dollar index breaks major support 95.80 at 55 day EMA and declined till 95.58 at the time of writing.
A break below 95.80 confirms minor weakness a decline till 95/94.07 (61.8% retracement of 97.57 and 91.92) is possible.
On the higher side, any break above 96.60 will take the index to next level till 97/97.60. The minor resistance is around 96.28.
Overall bearish invalidation only above 97.60.
It is good to sell on rallies around 95.85-95.90 with SL around 96.60 for the TP of 95/94.10