US Dollar index has broken neckline of Head and shoulder pattern 97.40 and this confirms short term weakness, a decline till 95.30 (23.6% retracement of 100.39 and 78.90) cannot be ruled out .
On the upside major resistance is around 98.21 and any short term trend reversal can happen only above that level. Break above would extend gains till 98.75/99.15.The minor resistance is around 97.55
US Dollar index minor support is around 96.75 and break below will drag further down till 96/95.35 in short-term.
Indicator (4 hour chart)
CCI (50) – Sell
Woodies CCI (14) – Sell
Ichimoku- Sell
It is good to sell around 96.85-96.90 for the target of 95.35 with stop around 97.60.
On the upside major resistance is around 98.21 and any short term trend reversal can happen only above that level. Break above would extend gains till 98.75/99.15.The minor resistance is around 97.55
US Dollar index minor support is around 96.75 and break below will drag further down till 96/95.35 in short-term.
Indicator (4 hour chart)
CCI (50) – Sell
Woodies CCI (14) – Sell
Ichimoku- Sell
It is good to sell around 96.85-96.90 for the target of 95.35 with stop around 97.60.
