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- Major resistance - 101.12 (161.8% retracement of 99.12 and 95.89).
- Pattern formed – Bearish Divergence.
- The U.S dollar index has made a high of 100.04 and slightly declined from that level. It is currently trading around 99.80.
- In the daily chart the index has formed bearish divergence, so a slight decline till 98.84 (5- day MA)/98.12 (10- day MA).
- On the higher side, any break above 100.05 will take the pair till 100.50/101.12 (161.8% retracement of 99.12 and 95.89).
It is good to sell on rallies around 100.15-100.20 with SL around 101.15 for the Tp of 98.85/98.15
