FxWirePro: US Dollar Index upside capped by 10 –day MA, good to buy on dips

• U.S dollar index formed a bottom around 95.47 and slightly recovering from that level. It is currently trading around 96.35.
   
• In the daily chart, index upside capped by 10 –day MA and any break above will take the DXY till 97/97.25.           
   
• Any close above 96.59 will take the index till 96.96 (61.8% retracement of 97.87 and 95.47)/97.25.
   
• On the lower side, any break below 95.47 will drag the index till 95/94.60 in the short term.
   
• Short term bearish invalidation only above 97.87.

It is good to buy on dips around 96-96.10 with SL around 95.47 for the TP of 96..59/96.96