US Dollar Index Trade Idea

• Major resistance- 95.50 (May 19th 2016 high)
   
• Major support – 94.80 (55 day 4 H EMA)
   
• US Dollar index has surged past 95.50 and jumped till 95.54 at the time of writing. It is currently trading around 95.45.
   
• DXY breach of 95.50 confirms minor trend reversal .Break above 95.50 will take the index till 96.40/97.10.
   
• On the lower side minor support 94.80 (55 day 4H EMA) and any break below targets  94.20 (21 day MA)/93.60.

It is good to buy at dips around 95.25 with SL around 94.75 for the TP of  95.85/96.40.

R1-95.50

 R2-96.40

R3-97.10

Support

S1-94.80

S2-94.20

S3-93.60