DXY | H4 Potential for Bearish Dip

37786 dxy h4 potential for bearish dip

Type: Bearish ReversalKey Levels:Resistance: 101.159Pivot: 100.742Support: 99.394Preferred Case:We see that price is near pivot level and it is on a bearish momentum. Price can potentially dip from pivot level of 100.742 which lines up with 138.2% Fibonacci extension towards the 1st support level of 99.394 which is in line with 50% Fibonacci retracement, along with a horizontal pullback support.Alternative Scenario:Otherwise, price can also break through the pivot level and trigger a rise towards the 1st resistance level of 101.159 which is in line with 78.6% Fibonacci projection and 161.8% Fibonacci extension.

Source: Tickmill

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