Strong employment data from the US gave momentym to the US Dollar Index.
The US Dollar Index hit a high of 96.91, but was unable to
close above 50Dsma. The Index rejected at 50dsma on a closing basis twice . Mild bearish signals on the USDX and USD pairs were generated. The Index is forming a mild distribution pattern. Bulls must close above 96.55 today to
erase the bearish view. On a daily basis, the Index must close above 97.80,
which was 61.8 FB entire fall. The Index managed to close
above 20Wsma. Support is found at 96.10 and 95.00.
The material has been provided by InstaForex Company – www.instaforex.com