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FxWirePro: Sell US Dollar Index below 94.30

Ichimoku (Hourly Chart)

 

Tenken-Sen- 94.44

Kijun-Sen -94.52

 

Trend reversal Level- 94.30

 

As per our analysis DXY is trading weak after a minor pullback till 94.73. The pair is tradingt weak for the day and lost nearly 20 pips from the high of 94.52 level. It hits low of 94.32 and  is currently trading around 94.34.

On the lower side, major support is around 94.31(23.6% fib) and any break below targets 94/93.60/93.20.

 

The near term major intraday resistance is around 94.65 (trend line resistance) and any violation above will take the index till 95/95.25/95.75.

It is good to sell below 94.30 with SL around 94.65 for the TP of 93.60/93.25.

 

 

 

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