Dollar stuck between MAs as investors digest NFP
The Dollar Index declined this week after hitting its 200 days MA.
Following NFP, the Dollar spiked down to test the Fast MA line and a broken downtrend line - Two elements that should have acted as support - and they did.
A breakout above 96$ will lead for extended rally towards 98$ and maybe even 100$ to complete a bearish Bat.
A breakdown below 95$ will lead to a re-test of the bottom of the trading range - 94$.
For now we are stuck between 95 and 96
Following NFP, the Dollar spiked down to test the Fast MA line and a broken downtrend line - Two elements that should have acted as support - and they did.
A breakout above 96$ will lead for extended rally towards 98$ and maybe even 100$ to complete a bearish Bat.
A breakdown below 95$ will lead to a re-test of the bottom of the trading range - 94$.
For now we are stuck between 95 and 96
