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FxWirePro: US Dollar Index faces strong resistance around 100.50, good to sell on rallies

  • Major support: 98.35 (55 day EMA)
     
  • The index has made a low of 98.37 (15 th Jan 2016) and recovered from that level. It is currently trading around 99.05.
     
  • Any break below 98.35 will drag the pair till 97.15/96.75.
     
  • On the higher side major resistance is around 100.51 and break above will take the index till 101.50/102.80.
     
  • The minor resistance is around 99.35/99.70/100.

It is good to sell on rallies around 99.85-100 with SL around 100.51 for the TP of 98.35/97.15.

 

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