DXY forms Bearish Bat pattern, good to sell on rallies

• Harmonic Pattern formed- Bearish Bat pattern.
   
• Potential Reversal Zone (PRZ) - 94.20.
   
• US dollar index jumped sharply after forming a temporary bottom at 92.50 level. The index jumped till 94.08 and shown a minor decline from that level. It is currently trading around 93.91.
   
• Short term trend is slightly weak as long as resistance at 94.20 holds. Any break above 94.20 will take the DXY to next level till 95/95.15. Overall bearish invalidation only above 95.15.
   
• On the lower side, near term support stands at 93.40 and any break below will drag the index till 93/92.50.Bearish continuation can be seen below 91 level.

It is good to sell on rallies around 93.90-95 with SL around 94.21 for the TP of 93/92.55.