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18 Jul 2013
USD index proving Fibo around 82.62 to be resilient
FXstreet.com (Barcelona) - The US Dollar index spot (DXY) is still last trading above the 82.60 level, off early NY session weekly lows around the 82.35 mark, printed moments before FED Bernanke's testimony.
USD index 100 DMA holds
According to IFR Markets analyst Duncan Balsbaugh, the USD index “has held another attempt to break the 100-day exponential moving average at 82.41. The bounce from those lows has taken out the 50-day expo mover at 82.75 but the tentative move higher needs more fuel. A move back above the mid-Bollinger at 83.12, with at least a couple of closes through is the necessary fuel for further advance,” the analyst concluded.
USD index key technical levels
Immediate support to the downside for USD index lies at July 11 lows 82.41, followed by mentioned fresh weekly lows at 82.35, and June 25 lows at 82.24. To the upside, closest resistance shows at June 24 highs 82.84, followed by Monday's lows at 82.88, and April 24 highs at 83.19.
USD index 100 DMA holds
According to IFR Markets analyst Duncan Balsbaugh, the USD index “has held another attempt to break the 100-day exponential moving average at 82.41. The bounce from those lows has taken out the 50-day expo mover at 82.75 but the tentative move higher needs more fuel. A move back above the mid-Bollinger at 83.12, with at least a couple of closes through is the necessary fuel for further advance,” the analyst concluded.
USD index key technical levels
Immediate support to the downside for USD index lies at July 11 lows 82.41, followed by mentioned fresh weekly lows at 82.35, and June 25 lows at 82.24. To the upside, closest resistance shows at June 24 highs 82.84, followed by Monday's lows at 82.88, and April 24 highs at 83.19.