Major resistance -97.71
Chart pattern- Double bottom
US dollar index has formed a double bottom around 96.75 and shown a good recovery of more than 60 pips. It hits high of 97.49 and is currently trading around 97.38.
On the higher side, any break above 97.71 confirms trend reversal and a jump till 98.43/98.60 is possible.
The near term support is around 96.70 and any break below will drag the index till 96.40/95.95.
It is good to buy on dips around 96.85-90 with SL around 96.40 for the TP of 97.71.
