DXY faces strong resistance at 96.80, break above targets 97.25/98

• Major resistance -96.80
   
• Major support – 95.75 (trend line joining 94.99 and 95.34)
   
• U.S dollar index has slightly retreated after making a high 96.73. It is currently trading around 96.60.
   
• The index has formed a temporary top around 96.80 and declined from that level. Any further bullishness only above that level.
   
• Any indicative break above 96.80 will take the index to next level till 97.25/98. The minor resistance is at 96.45.
   
• On the lower side, major support is around 96.15 (61.8% retracement of 95.83 and 96.73) and violation below targets 95.80/95.17 (200 4H MA).

It is good to sell on rallies around 96.25-96.30 with SL around 96.81 for the TP of 95.75/95.20