DOLLAR INDEX - Critical Resistence Ahead of FOMC

15 thg 3, 2017

Couple of sessions back US Dollar Index manage to break the trend line support at 101.45 and fall to next support at 100.80 which caused a bounce. that bounce is resulting as a test of broken support as a resistance now around 101.70-80 level. Ahead of FOMC later today this level looks very critical as if US Dollar index failed to take out this resistance it is expected to face a hard fall which can lead Dollar towards 99.60 which is most likely scenario. only a break above 101.80 -102.20 area will clear the way for further dollar bulls.