Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: DASH/USD struggles to extend break below trendline, finds strong support at 50-DMA (969.57)

  • DASH/USD is consolidating break below trendline, struggles to extend weakness.
     
  • The pair is trading in a narrow range today, remains capped below 5-DMA at 1034.
     
  • Downside finds strong support at 50-DMA at 969, we see further weakness only on break below.
     
  • Momentum studies are bearish, but RSI is flat. Break below 50-DMA to see further downside. Scope then for test of 50% Fib at 870 levels.
     
  • On the higher side, break above 5-DMA to see next major resistance at 20-DMA at 1082. Breakout there could see resumption of upside.

Support levels - 969 (50-DMA), 905 (Dec 30 low), 870 (50% Fib retrace of 115 to 1625 rally)

Resistance levels - 1034 (5-DMA), 1082 (20-DMA), 1250 (trendline)

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.