Free Trial

DOLLAR-INDEX TECHS: Channel Top Capping *RES.....>

US
US: DOLLAR-INDEX TECHS: Channel Top Capping
*RES 4: 93.920 - High Oct 3 
*RES 3: 93.794 - Hourly support Oct 3 now resistance 
*RES 2: 93.628 - Hourly resistance Oct 3 
*RES 1: 93.434 - Alternating hourly support/resistance
*PRICE: 93.409 @ 0430GMT
*SUP 1: 93.307 - Hourly support Oct 2a
*SUP 2: 93.083 - Hourly support Sept 29
*SUP 3: 92.955 - 55-DMA
*SUP 4: 92.724 - High Sept 25 now support
*COMMENTARY: The lack of topside follow through Tuesday is less than ideal given
the daily bull channel top capping, O/B daily studies and the Bollinger band top
(93.781). Bears now look for a close below 93.307 to confirm focus on 92.724-955
where the 55-DMA is noted. Bears still need a close below 92.724 to hint at a
move back to 91.526-781 with below the 21-DMA (92.475) to confirm. Bulls now
need a close above 93.638 to return pressure to 93.920.

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.