DOLLAR.IDX/USD 4H: Tests support cluster at 97.28 - Trade Pattern Ideas - Dukascopy Bank

Wed, 03 Jun 2020 05:56:00 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)BuyBuyNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate

The dollar index, which measures the US Dollar against a basket of major currencies, has surged by 2.57% since May 25. The currency pair tested a support cluster formed by the weekly S1 and the monthly S1 at 97.28.

If the support cluster, as mentioned above holds, a surge towards the 98.50 level could be expected during the following trading sessions.

However, technical indicators suggest that the DOLLAR.IDX/USD exchange rate might continue to trade bearish within this week's trading sessions. A breakout could occur this week.


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