U.S. Dollar Index to Test Resistance: Will it Break Through?
Jason Sen | Jun 20, 2023 05:34AM ET
US Dollar Index making a slow recovery in the sideways trend as we head towards strong resistance at 102.65/75. This may be an opportunity to sell the dollar pairs (eg buy EURUSD or sell USDCAD).
If you are short around 102.45/50 I think we will see a retest of 102.10/00 before too long. A break above 102.75 however can target 103.00/10.
A break below 102.00 targets 101.85/75 then 101.40/30.
AUDUSD no sell signal despite overbought conditions so I remain a buyer on weakness.
Strong support at 6800/6790. Longs need stops below 6775.
Targets: 6825, 6850, 6885
NZDUSD support at 6190/80. A low for the day exactly here yesterday also. Longs need stops below 6165.
Targets: 6210, 6240, 6280.
Strong support at 6150/40. Longs need stops below 6125.
Targets: 6180, 6210
USDCHF first resistance at 8960/70, with a high for the day only 4 pips above here yesterday - Shorts need stops above 8980.
Targets: 8930, 8910
Strong resistance at 8990/9000. Shorts need stops above 9015.
Targets: 8965, 8940.
CADJPY first support at 106.40/30. Longs need stops below 106.15.
Better support at 105.75/55. Longs need stops below 105.35.
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