FxWirePro: US Dollar index downside capped by 61.8% retracement, good to buy on dips

• Major resistance – 97.60 (trend line joining 96.79 and 97.32)
   
• Major support  - 96.70
   
• The index has recovered after making a low of 96.85. It is currently trading around 97.26.
   
• Short term trend is slightly bullish as long as support 96.85 holds. Any break above 97.60 will take the index till 98.25/98.40 in the short term.
   
• On the lower side, any violation below 96.70 will drag the index down till 96.35 (trend line joining 95.34 and 95.83)/95.85.

It is good to buy on dips around 97 with SL around 96.50 for the TP of 97.60/98.40.