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Home » The dollar index fell to its more than 2 years low after Fed repeated its pledge.
Forex

The dollar index fell to its more than 2 years low after Fed repeated its pledge.

Dollar Index

 

The dollar index fell on Thursday to its more than 2 years low as Fed repeated its pledge to limit damage from the pandemic as surging new coronavirus cases hamper the economy. Also, the dollar index has been falling continuously as investors suspect that the Fed will continue its ultra-loose monetary policy for years to come.

 

Technical outlook of Dollar Index and other Major Currency Pairs

USDINR

Support is 74.85 Resistance is 75.10.

Break and close above 75.10 will take it to 75.40—75.50 levels else could touch its support level of 74.90 levels.

We can go for fresh selling on a close below 74.85.

Trade with levels only.

 

Dollar Index

DX has resistance at 93.51 while major support at 93.10

A break and close below 93.10 will see a downside move till 92.70 —92.50 in the days to come.

Above 93.51 we can do fresh buying in it.

Trade with levels only.

 

EURINR

It has its major support at 88.25 and resistance is seen at 88.90.

Below 88.25 could take correction till 87.90 levels where a buying opportunity we can expect.

Fresh selling can only be done below 87.50.

Trade with levels only.

 

EURUSD

EURUSD looks positive on the chart.

Immediate resistance at 1.1807 while major support at 1.1700

Break and sustain above 1.1807 will take it to 1.1900—1.1950 levels or else it can touch its support level of 1.17000 again.

Fresh selling can be done below 1.1700 levels.

Trade with levels only.

 

AUDUSD

AUDUSD bounced back from the bottom.

Resistance at 0.7200 and major support at 0.7145

A break and close above its resistance level will see an upside move till 0.7250—-0.7300.

Fresh selling will do below 0.7145.

Trade with levels only.

 

GBPINR

Support at 97.00 and resistance at 97.40.

Break and sustain above 97.40 will take it to 97.80—98.00 levels or else it could test its support again.

Fresh selling will do below 97.00 levels.

Trade with the levels only.

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