FxWirePro: US Dollar Index upside capped by 61.8% fibo, good to buy on dips

• Major support – 101.20 (21- day EMA)
   
• Major intraday support –100.60
   
• U.S. Dollar index has taken support near trend line, 21- day EMA and jumped slightly from that level. It is currently trading around 101.59.


• On the higher side, upside is capped by 61.8% retracement of 102.26 and 101.22 at 101.87 and any break above will take the index till 102.30/102.95 (Jan 1st 2017 high).
   
• The major intraday support is around 101.20 (21- day EMA) and any break below targets 100.60/100/99.25 (23.6% fibo).
   
• Short term bullish invalidation only below 100.60.            

It is good to buy on dips around 101.45 with SL around 101 for the TP of 102.25/120.95