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FxWirePro: DXY trades above trend line resistance, jump till 97 likely

DXY recovered more than 50 pips from the low of 95.49. USD prices has been support due to hawkish Fed rates and trade war tensions. The index hits high of 96.09 and shown a minor decline till 95.95. it is currently trading around 95.97.

 

The index is trading slightly above trend line resistance at 95.95 (trend line joining 96.698 and 96.12) and any convincing daily close above confirms further bullishness. Any break above targets 97.

 

On the lower side, near term support is around 95.40 and any violation below targets 95/94.67 (89- day EMA).

 

It is good to buy on dips around 95.70-75 with SL around 95.35 for the TP of 97.

 

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