Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

US Dollar Index breaks major resistance at 95.20, jump till 96.40 is possible

  • Major resistance- 95.20 (Apr 14th 2016)
     
  • Major support – 94.10 (21 day MA)
     
  • US Dollar index has surged overnight on the modestly hawkish FOMC minutes increased hopes of rate hike in June.
     
  • Fed fund futures shows that investors also pushed the odds of June rate hike to 34% sharply for 4% this week.
     
  • DXY breach of 95.19 confirms minor trend reversal .Break above 95.20 will take the index till 95.85/96.40.
     
  • On the lower side minor support 94.70 (4H Kijun-Sen) and any break below targets  94.10 (21 day MA)/93.60.

It is good to buy at dips around 94.70 with SL around 95.85/96.40.

  • Market Data
Close

Welcome to EconoTimes

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