DOLLAR INDEX - Critical Resistence Ahead of FOMC
Couple of sessions back US Dollar Index manage to break the trend line support at 101.45 and fall to next support at 100.80 which caused a bounce. that bounce is resulting as a test of broken support as a resistance now around 101.70-80 level. Ahead of FOMC later today this level looks very critical as if US Dollar index failed to take out this resistance it is expected to face a hard fall which can lead Dollar towards 99.60 which is most likely scenario. only a break above 101.80 -102.20 area will clear the way for further dollar bulls.
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