Pivot Point: (95.40).
Favorite scenario: Entering short positions below 95.40, with 93.00 as an initial price target.
Alternative scenario: In case the price rises above the level of 96.40, buy positions can be entered with setting 97.00 as an initial price target.
Comment:
The US dollar index is moving above the ascending trend line that started in May 2021, but it is worth noting that the index has a strong negative divergence with the MACD, and then formed a lower top than the previous one, so in the event of a decline Below 95.40, we recommend opening short positions to target the next support level 93.00. In the event of a rise above 96.40, the previous scenario will be cancelled. In this case, we recommend opening long positions to target the next resistance level 97.00.
