FxWirePro: US Dollar Index faces strong support at 89- WEMA, close below targets 95.90

• U.S dollar index trading extremely weak compared to previous week. The index broken 89- W EMA and declined till 97.2897.33 in the week.
   
• The jump from 91.92 to 103.82 will come to an end if it closes below 89 W EMA.  Any close below 97.43 (89 W EMA) confirms major weakness, a decline till 91.92 is possible. Short term trend is still weak as long as resistance 99.89 (May 11th 2017 high) holds.
   
• On the lower side, major near term support is around 97.33 (161.8% retracement of 98.86 and 101.34) and any break below will drag the index till 95.91 (Nov 9th 2016 low)/95.
   
• The near term resistance is around 98.60 (support turned into resistance) and any break above will take the index till 99.25 (200 MA)/99.89.

It is good to sell on rallies around 97.35-97.40 with SL around 98.10 for the TP 95.90/95.