Major support - 95.90 (20 day MA)
DXY is trading weak for 2nd consecutive day after ten days of jump till 97.20. The index declined more than 100 pips and is currently trading around 96.14.
The near term support is around 95.90 (20- day MA) and any violation below will drag the index till 95.48 (55- day EMA)/95.15 (100 -day MA).
On the higher side, near term intraday major resistance is around 96.40 and any convincing break above targets 96.78/97/97.20. Any break above 97.40 (trend line joining 95.15 and 96.98) confirms bullish continuation.
It is good to sell on rallies around 96.45-96.50 with SL around 97 for the TP of 95.20.
