Major support - 95.90 (20 day MA)
Ichimoku analysis (Daily Chart)
Tenken-Sen - 96.43
Kijun-Sen - 95.99
DXY has recovered more than 80 pips from yesterday’s low of 96.07. The index hits high of 96.92 for the intraday. It is currently trading around 96.80.
The near term support is around 96.50 (10- day MA) and any violation below will drag the index till 96.14 (20- day MA)/95.60 (55- day EMA)/95.20 (100 -day MA).
On the higher side, near term intraday major resistance is around 97.20 and any convincing break above targets 97.60. Any break above 97.60 (trend line joining 95.15 and 96.98) confirms bullish continuation.
It is good to buy on dips around 96.45-50 with SL around 96.10 for the TP of 97.60.
