FxWirePro: US dollar Index faces strong resistance at 200 day MA, good to buy at dips

• Major resistance- 95.50 (trend line joining 99.83 and 98.42)
   
• The DXY has broken major resistance 95.50 and jumped till 96.70 yesterday. It is currently trading at 96.38.
   
• U.S dollar index major resistance is around 96.55 (200 day MA) and it should close above this level for further bullishness.
   
• Any indicative break above 96.55 will take the index to next level 97.18 (61.8% retracement of 100.44 and 91.90)/98.40.
   
• On the lower side, any break below 95.80 will drag the index down till 95.30/95.10 (90 day EMA).
   
• Overall bullish invalidation only below 93.

It is good to buy at dips 95.85-95.90 with SL around 95.10 for the TP of 96.60/97.20/98.40.