FxWirePro: US Dollar Index faces strong support at 200 day MA, good to buy on dips

• Major support – 95.75 (trend line joining 94.99 and 95.34)
   
• U.S dollar index has slightly declined after making a high of 97.32. It is currently trading around 96.99.
   
• Short term trend is still bullish as long as support 96.59 (200 MA) holds.
   
• The index has formed temporary top around 97.32 and it should break above 97.32 for further bullishness. Any break above 97.32 will take the index to next level at 98/98.60/99 in the short term.
   
• On the lower side, major support is around 96.59 (61.8% retracement of 95.83 and 96.78, 200 day MA) and violation below targets 96.15/95.80/95.20 (200 4H MA).

It is good to buy on dips around 96.85 with SL around 96.50 for the TP of 98.60/99