Fxwirepro US Dollar Index Upside capped by 55- Day Ema,good to Buy on Dips

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• Major support – 98.86 (61.8% retracement of 95.89 and 103.82).  
• Major resistance – 100.70 (55- day EMA).  
• DXY has shown a minor decline after jumping till 100.65.It is currently trading around 100.53.  
• On the lower side, the minor support is around 100 and any break below 100 will drag the index down till 99.25/98.85 in the short term.  
• The near term resistance is around 100.70 (55 –day EMA) and any break above will take the index till 100.97/101.35 (50% retracement of 102.25 and 98.86). It is good to buy on dips around 100.10-100.20 with SL around 99.55 for the TP of 101.35/102.

The material has been provided by InstaForex Company - www.instaforex.com

April 03, 2017 at 06:32PM

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