FxWirePro: DXY trade idea

• Major resistance - 101.12 (161.8% retracement of 99.12 and 95.89).
   
• Pattern formed – Bearish Divergence
   
• The U.S dollar index has made a high of 100.57 and slightly declined from that level. It is currently trading around 100.
   
• In the daily chart the index has formed bearish divergence, so a slight decline till 98.66 (10- day MA)/98 is possible.


• On the higher side, any break above 100.60 will take the pair till 101.12 (161.8% retracement of 99.12 and 95.89)/102.
  
  It is good to sell on rallies around 100.10-100.20 with SL around 101.12 for the TP of 98.65/98.05                 

Resistance                                                                                 

R1-100.60                                

R2-101.15  

R3-102

Support               

S1-99

S2-98.65.

S3- 98