USDINDEX: Bearish, Sells Off Below Key Support 93.95 !

Forex USA25
Forex USA25

Medium term outlook in US dollar index remains on the downside as long as 93.95 resistance holds on a weekly closing basis, support comes at the 92.00 levels, a halt is likely, but a cut through 92.00 levels will open 89.75 next, further weakness will aim the  87.00 levels.

On the upside, resistance comes at the 93.95 levels (broken support), sustained breakout above the 93.95 levels will recapture main resistance at the 96.08 levels where strong rejection is very likely, however; above 96.08 faces a recovery risk towards the 98.00/100.00 levels before the next fall.

In all, as long as 93.95 resistance holds on a weekly closing basis, the U.S dollar index remains under pressure with risk towards the 92.00/89.75 levels, above 93.95 sees limited gains below 96.08 before the next fall..

 

USDINDEX_ Bearish, Sells Off Below Key Support 93_95 !

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