Major resistance - 96.25 (50- day MA)
DXY is trading higher for 2nd consecutive day and jumped more than 60 pips. The index hits intraday high of 96.41 and is currently trading around 96.40.
On the higher side DXY is trading slightly above 96.25 (50- day MA) and daily close above confirms further bullishness and a jump till 96.80 (61.8% fib)/97.37 is possible.
The near term support is around 96 and any violation below targets 95.80/95.60 (200- day MA)Any break below 95.60 will take the index to next level till 95.15 (300- day EMA)/95.
It is good to buy on dips around 96.30-35 with SL around 96 for the TP of 97.37.
