Free Trial

DOLLAR-INDEX TECHS: Bears Need Close Below.......>

US
US: DOLLAR-INDEX TECHS: Bears Need Close Below 21-DMA
*RES 4: 91.689 - Hourly support Jan 12a now resistance 
*RES 3: 91.523 - Hourly resistance Jan 12 
*RES 2: 91.011 - Low Sept 8 now resistance 
*RES 1: 90.567 - High Feb 8
*PRICE: 90.229 @ 0320GMT
*SUP 1: 90.013 - Low Feb 8
*SUP 2: 89.854 - 21-DMA
*SUP 3: 89.720 - Hourly resistance Feb 6 now support
*SUP 4: 89.373 - Low Feb 6
*COMMENTARY: Pressure returning to 2018 lows failed to produce the close below
needed to add weight to the case for a test of the weekly bear channel base
(87.177). The close above 90.113 eased bearish pressure and shifted focus to
91.011-751. Daily studies are well placed for gains. Bears need a close below
the 21-DMA to gain breathing room and below 89.373 to return initial focus to
88.438 2018 lows.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.