The dollar index has depreciated about 2.22% in value against the US Dollar since October 1. The currency pair breached August 2019 support level at 97.21 during last week's trading sessions.
The Dollar.IDX/USD pair is currently testing a support cluster formed by the monthly S2 and the lower boundary of a descending channel at 96.89.
From a theoretical point of view, a brief retracement towards the 97.93 could be expected within this week's trading sessions.
However, given that the pair is trading near the border of the channel pattern, a breakout could occur in the nearest future.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.