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Home » The dollar index is on the verge of worst month in 10 years as COVID 19 damaged U.S economy.
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The dollar index is on the verge of worst month in 10 years as COVID 19 damaged U.S economy.

 

 

The dollar index is on the verge of worst month in 10 years as COVID 19 damaged U.S economy as investors worried that a recovery in the U.S. economy would be hampered by the country’s struggle to stem the coronavirus epidemic.

 

Technical outlook of Dollar Index and other Major Currency pairs

 

USDINR

Support is 74.50 Resistance is 75.15.

Break and close above 75.15 will take it to 75.80—76.00 levels else could touch its support level of 74.50 levels.

We can go for fresh selling on a close below 74.50.

Trade with levels only.

 

Dollar Index

DX has its major support at 92.50 and resistance is seen at 93.20.

A break and close below 92.50 will see a downside move till 91.80 —91.50 in the days to come.

Fresh buying can be done above 93.20.

Trade with levels only.

 

EURINR

Resistance at 89.15 and Major support at 88.50

Break and sustain above 89.15 will see an upside move till 89.80—90.00 levels in days to come or else it could test its support again.

Fresh selling will do below 88.50 levels.

Trade with levels only.

 

EURUSD

EURUSD looks positive on the chart.

Immediate resistance at 1.1910 and major support at 1.1835

Break and sustain above 1.1910 will take it to 1.2000—1.2050 levels or else it can touch its support level of 1.835 again.

Below 1.1835 we can initiate fresh selling in it.

Trade with levels only.

 

AUDUSD

AUDUSD bounced back from the bottom.

Resistance at 0.7230 and major support at 0.7190

A break and close above its resistance level will see an upside move till 0.7270—-0.7300.

Fresh selling will do below 0.7190.

Trade with levels only.

 

GBPINR

Support at 97.90 and resistance at 98.55

Break and sustain above 98.55 will take it to 99.20—99.50 levels or else it could test its support again.

Fresh selling will do below 97.90 levels.

Trade with the levels only.

 

Read our previous Major Currency pairs update. Click here!

 

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