FxWirePro:US Dollar index breaks major support at 99.23, targets 98
Monday, March 27, 2017 8:23 AM UTC
- Major support – 99.23 (Feb 2nd 2017 low).
- Major resistance - 100.
- DXY tumbles to 1-1/2 month low after Trump failed to push through his health care act. The index breaks 99.23 major support and declined till 99.04.
- On the lower side, any break below 99.23 will drag the index down till 98.59/98 in the short term.
- The near term resistance is around 100 and any break above will take the index till 100.40 (21- day EMA) /100. 83 (55- day EMA).
It is good to sell on rallies around 99.25-99.30 with SL around 99.60 for the TP of 98.60/98