The USDX made a big intraday loss. April’s US factory orders fell 0.4%.
The US Dollar Index fell below 50Dsma, managed to close at 100Dsma. The support is found at 95.50 and 95.00. Until the Index closes above 95.00, bulls will have the upper hand. The real bull strength ignites above 97.50 on a closing basis like 103.00 on the higher side. In the four-hour chart, the Index formed a double top between 97.78 and 97.68. Intraday support is found at 95.50. Intraday resistance is seen at 96.20 and 96.50. In case a dip took place, buying will be available between 95.50 and 95.00 with sl 94.80.
The material has been provided by InstaForex Company – www.instaforex.com
The USDX
made a big intraday loss. April’s US factory orders fell 0.4%.
The US Dollar Index
fell below 50Dsma, managed to close at 100Dsma. The support is found at 95.50 and
95.00. Until the Index closes above 95.00, bulls will have the upper hand. The real
bull strength ignites above 97.50 on a closing basis like 103.00 on the higher
side. In the four-hour chart, the Index formed a double top between 97.78 and
97.68. Intraday support is found at 95.50. Intraday resistance is seen at 96.20 and
96.50. In case a dip took place, buying will be available between 95.50 and 95.00 with
sl 94.80.
The material has been provided by InstaForex Company – www.instaforex.com
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