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DXY reversed nicely off its resistance, potential to drop more!

Oleh ICmarkets
Broker
DXY reversed nicely off its resistance at 89.67 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 89.24 (61.8% Fibonacci extension x2, 78.6% Fibonacci retracement, horizontal swing low support). We have also identified another stop loss at 89.86 (100% Fibonacci extension).
Stochastic (89, 5, 3) reversed off its resistance at 97% where it has a lot of corresponding downside potential.
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ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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