- Major resistance -96.60 (200 day MA).
- The index has made a minor temporary top at 96.52 and started to decline from that level. It is currently trading around 95.61.
- US Dollar index breaks major support 95.80 at 55 day EMA and declined till 95.58 at the time of writing.
- A break below 95.80 confirms minor weakness a decline till 95/94.07 (61.8% retracement of 97.57 and 91.92) is possible.
- On the higher side, any break above 96.60 will take the index to next level till 97/97.60. The minor resistance is around 96.28.
- Overall bearish invalidation only above 97.60.
It is good to sell on rallies around 95.85-95.90 with SL around 96.60 for the TP of 95/94.10
