- U.S dollar index formed a bottom around 95.47 and slightly recovering from that level. It is currently trading around 96.05.
- In the hurly chart, index is trading slightly above Tenken-Sen (95.88) and Kijun-Sen (95.83) . The index should close above cloud (96.04) in the hourly for the intraday bullishness.
- Any close above 96.05 will take the index till 96.62/96.96 (61.8% retracement of 97.87 and 95.47).
- 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 95.90 with SL around 95.47 for the TP of 97.87.
