 - EconoTimes)
Major trend line resistance- 99.30
Bearish divergence (daily chart)
US dollar index is trading higher for 2nd consecutive week and hits 2-1/4 year high on EURUSD weakness. It hits an intraday high of 99.35 and is currently trading around 99.30. The overall trend is still bullish as long as support 97.80 holds.
The index is almost in overbought zone and minor dip till 98.30-35 is possible.
The near term support is around 98.60 and any break below will drag the index down till 98.20/98/97.70. Any daily close below 97 confirms bearish continuation.
It is good to sell on rallies around 99.25-28 with SL around 99.40 for the TP of 98.70/98.3
