US Dollar Index breaks major support 97.20, targets 96.25/95
Major support -97.20 (Dec 15th 2015)
Dollar index has broken major support 97.20 and declined till 96.77 at the time of writing. It is currently trading around 96.80.
Any break below 97.20 confirms minor weakness, a decline till 96.25 (trend line joining 92.62 and 93.94) is possible .Break below 96.25 will drag the index further down till 95.60/93.80.
On the higher side major resistance is around 97.85 and break above targets 98.30/98.70.
Overall bearish invalidation only above 100 level.
It is good to sell on rallies around 97.20 with SL around 97.85 for the TP of 96.25/95.60
Dollar index has broken major support 97.20 and declined till 96.77 at the time of writing. It is currently trading around 96.80.
Any break below 97.20 confirms minor weakness, a decline till 96.25 (trend line joining 92.62 and 93.94) is possible .Break below 96.25 will drag the index further down till 95.60/93.80.
On the higher side major resistance is around 97.85 and break above targets 98.30/98.70.
Overall bearish invalidation only above 100 level.
It is good to sell on rallies around 97.20 with SL around 97.85 for the TP of 96.25/95.60