- 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
