DXY bounced nicely off its support, potential to rise!

8 mar 2018

DXY tested its support at 89.52 (61.8% Fibonacci extension , 50% Fibonacci retracement , horizontal overlap support) and could potentially rise to its 1st resistance at 90.99 (61.8% Fibonacci extension , 100% Fibonacci extension , long-term 61.8% Fibonacci extension , 61.8% Fibonacci retracement , 38.2% Fibonacci retracement , horizontal overlap resistance). If it breaks past this level, it could rise up to its 2nd resistance at 91.75 (50% Fibonacci retracement , 78.6% Fibonacci retracement ). We have also identified another support at 88.27 (horizontal swing low support).

Stochastic (89, 5, 3) shows a bounce off its support at 1.158 where corresponding reaction could occur.