Friday, November 3, 2017

The Dollar at a key resistance

The Dollar index has reached a very good resistance at the 95.00 level and it has not been able to break that level to the upside as shown on the daily chart. The Dollar gained strength this Friday versus most of its counterparts as the NFP numbers came out somehow mixed. While the number of new jobs created came out lower than expected, the US unemployment level came down from 4.2% to 4.1%. The Dollar has been very volatile, but it has not taken a clear direction. Above the 95.00 level, its next resistance could be the 95.50 level, but the 96.00 level could also act as a resistance. To the downside, the 94.00 level is its closest support along with the 55 day EMA. The 93.00 level could act as a more relevant support on the index.


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