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

The dollar index has once again made a high of 99.82 and started to decline from that level. It is currently trading around 99.39

• Major support: 98.50 (55 day EMA)
   
• The index has made a low of 98.42 (28 th Jan 2016) and recovered from that level. But index struggling to close above 100.
   
• The index minor support is around 99 and break below targets 98.50.
   
• Any break below 98.50 will drag the pair till 97.75/97.15/96.75.
   
• On the higher side major resistance is around 100.51 and break above will take the index till 101.50/102.80.

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