DXY continues to trade lower after the release of weak US economic data. US ADP employment came at 67k jobs in November well below expectations of 140K and ISM services index at 53.9 misses estimate of 54.5. It hits a low of 97.48 at the time of writing and is currently trading around 97.59.
On the flip side, near term support is around 97.40, a breach below will drag the index down till 97/96.67.
The major resistance is around 98, any violation above will take the index till 98.45/98.60.
It is good to sell on rallies around 97.85-90 with SL around 98.20 for the TP of 96.60.
