FxWirePro: US Dollar index Trade idea

• Major support – 100.60
   
• DXY  breaks the low of 101.01 formed on Mar 13th 2017 and declined till 100.43 after FOMC meeting.
   
• The index was facing major support at 100.60 low formed on Feb 24th (100.66) and Feb 28th (100.69) and any indicative close below targets 100/99.25 (Feb 2nd 2017 low).
   
• On the higher side , near term resistance is around 100.95 (100- day MA) and any break above will take the index till 101.34 (21- day EMA)/101.78/102.25 (Mar 9th 2017 high).


• Overall bullish invalidation only below 98 level.
  
  It is good to sell on rallies around 100.75-100.80 with SL around 101.35 for the TP of 100/99.25        

Resistance                                                                                 

R1-100.95                           

R2 -101.35

R3- 101.80

Support                   

S1-100.60                

S2-100

S3- 99.25