Dollar index bouncing nicely off major support!

The dollar index is bouncing strongly above major support at 93.39 (Multiple Fibonacci retracement, Fibonacci extension, Horizontal overlap support, bullish price action). The next major level of resistance is at 94.28 (61.8% Fibonacci extension, 100% Fibonacci Extension, Horizontal overlap resistance). The next major level of support is at 92.26 (Fibonacci retracement, horizontal swing low support).

Stochastic (34,3,1) is bouncing nicely off our 2.8% support and has good upside potential.

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Chart PatternsdollardollarideadollarindexdollarlongDXYdxyideadxylongForexHarmonic PatternsTrend AnalysisUSD

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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