FxWirePro: US Dollar Index breaks major support at 98.50, good to sell on rallies

• The index formed a minor top around 99.89 and declining from its high. DXY has broken major support at 98.50 and this confirms minor trend reversal, a decline till 98/97.25. It has declined till 98.25 and is currently trading around 98.29.
   
• On the higher side, US dollar index should close above 99.25(200 day MA) for further bullishness.
   
• Any break above will take the index till 99.89/100.55/101.35.The near term major support is around 98.50 and any break below will drag the index down till 98/97.33 (161.8% retracement of 98.50 and 99.89).

It is good to sell on rallies around 98.55-98.60 with SL around 99.25 for TP of 97.25