Monday, 19 October 2015 13:30
SINGAPORE: The dollar index is expected to rise to 95.352 in a week, as it has climbed above a resistance at 94.518. The resistance was provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a presumed three-wave cycle from the Aug. 7 high of 98.334.
The next resistance will be at 95.352, the 23.6 percent level, a break above which could lead to a gain to the 14.6 percent level at 95.866. A drop to 94.467 could signal the break above 94.518 was false, and the support at 93.844, the 50 percent level, will be retested.
