The US dollar index is moving in a range between two purple lines. Today or on Monday, we can see some kind of action, either breakout. On the downside, 79.75 is the strong support in the near term and 79.25-79 is the rock base support in the long term. On the up side, 80.28 (50SMA) is the strong resistance. If it trades above this, we will see 80.58, 80.70 immediately and 81.32 later. In the daily chart, RSI favors the long side. Minor support exists at 80.10 and 79.95.
In the H4 chart, the US Dollar index is trading above all the daily momentum indicators. On the downside, support exists at 80.06, 80.0, and 79.90 levels. On an intraday basis, a move below 79.90 gives a weak signal towards 79.75. On the upside, if the price gives a breakout above the purple line, it will go up to 80.27 and 80.35.
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The US dollar index is moving in a range
between two purple lines. Today or on Monday, we can see some kind of action,
either breakout. On the downside, 79.75 is the strong support in the near term and 79.25-79 is the rock base support in the long term. On the
up side, 80.28 (50SMA) is the strong resistance.
If it trades above this, we will see 80.58, 80.70 immediately and 81.32
later. In the daily chart, RSI favors the long side. Minor support exists at
80.10 and 79.95.
In the H4 chart, the US Dollar index is
trading above all the daily momentum indicators. On the downside, support
exists at 80.06, 80.0, and 79.90 levels. On an intraday basis, a move below 79.90
gives a weak signal towards 79.75. On the upside, if the price gives a breakout above the
purple line, it will go up to 80.27 and 80.35.
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