- US Dollar index has recovered sharply and has broken 94.15 after US Non-farm payroll. It is currently trading around 94.15.
- US employment drops 33000 in Sep compared to forecast of 90000 due to Harvey and Irma. But unemployment rate falls to 4.2% from 4.4% lowest level since Dec 2000 and wages increased by 12 cents or 0.5%.
- The index has broken major resistance at 94.15 and jumped till 94.27. Any break above 94.15 will take the index to next level till 94.60/95.
- The index major support is at 93 (23.6% retracement of 91.01 and 93.67) and any break below targets 92.77 (34- day EMA)/92.29 (20- day MA).
It is good to buy on dips around 93.65-70 with SL around 93.25 for the TP of 94.60/95.