DXY Breaks Major Resistance at 94.70, Jump Till 95.35/95.80 Is Possible

DXY Breaks Major Resistance at 94.70, Jump Till 95.35/95.80 Is Possible

22 April 2016, 12:25
Roberto Jacobs
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DXY Breaks Major Resistance at 94.70, Jump Till 95.35/95.80 Is Possible

  • Major resistance - 94.70 (trend line joining 96.39 and 95.20) 
  • Major intraday support- 94.40 
  • DXY has recovered after making a temporary bottom around 93.60. It is currently trading around 94.83. 
  • Intraday trend is slightly bullish as long as support 94.40 holds. 
  • Dollar index has broken major resistance 94.70 today morning and jumped till 94.87 at the time of writing. 
  • Any break above 94.70 will take the index till 95.35/95.80. 
  • On the lower side major intraday support is around 94.40 and break below targets 93.90/93.60.

It is good to buy at dips around 94.75 with SL around 94.40 for the TP of 95.35/95.80

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