Major resistance - 98.45
DXY has broken major resistance 98.45 after a 2-week of consolidation. The hopes of the trade deal are supporting US dollar prices The index hits an intraday high of 98.54 and is currently trading around 98.47.
US 10-year yield continues to trade lower for 3rd consecutive week and spread between 10, 2-year yield has narrowed to 13.8 bps from 27 bps.
Technically, major support stands around 97.60, any indicative break beneath will drag the index till 97-97.20. The minor support is at 98.20/98.
On the higher side, 98.60 will be acting as major resistance and break beyond targets 99/99.65. Major bullish continuation only over 99.67.
It is good to buy on dips around 98.40-42 with SL around 98.20 for the TP of 99.
