FxWirePro: DXY Daily Outlook
Ichimoku Analysis (4-Hour chart)
US Dollar index has once again after hitting a high of 91.39. The surge in US bond yield was supporting the US dollar at lower levels. The bond yield surged more than 350% in the past 11 months on stimulus from US Fed. Markets eye US ADP employment data and ISM services for further direction. The index hits an intraday low of 90.67 and is currently trading around 90.81.
The near-term resistance is around 91.05 convincing close above confirms minor bullishness. A jump to 91.60 likely. Significant trend continuation only above 91.60.
The index facing strong support at 90.60; any indicative break below will take the index to 90/89.35.
It is good to sell on rallies around 91 with SL around 91.60 for a TP of 89.40.