FxWirePro: DXY trade idea

• Dollar index retreats from multi-year highs at 102.05.
   
• Momentum has turned bearish. Technical indicators are biased lower.
   
• We see scope for test of 100.35 (20-DMA). 
   
• Violation there could see next major support at 97.10 (100-DMA) and then 96.13 (trendline & 200-DMA).
   
• Support levels - 100.35 (20-DMA), 97.10 (100-DMA), 96.89 (Nov 4&7 lows)
   
• Resistance levels - 101, 101.10 (5-DMA), 102.05 (Nov 24 high)
   

Recommendation: Good to go short on rallies around 100.90/101, SL: 101.60, TP: 100.35/ 100/ 99.90
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FxWirePro's Hourly USD Spot Index was at -7.72537 (Neutral) at 0850 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex