DXY recovered sharply more than 80pips from the low of 94.78 after hawkish Fed minutes. The index hits high of 95.78 and shown a minor decline till 95.49. it is currently trading around 95.51.
The index is facing strong trend line resistance at 95.95 (trend line joining 96.698 and 96.12) and any convincing break above confirms further bullishness. Any break above targets 97.
On the lower side, near term support is around 95.40 and any violation below targets 95/94.67 (89- day EMA).
It is good to buy on dips around 95.45-50 with SL around 94.95 for the TP of 97.
