DXY faces strong resistance at 96.80, break above targets 97.25/98

• Major resistance -96.80
   
• Major support – 95.75 (trend line joining 94.99 and 95.34).
   
• U.S dollar index has slightly retreated after making a high 96.78 at the time of writing. It is currently trading around 96.63.
   
• The index has formed a temporary top around 96.80 and declined from that level. Any further bullishness only above that level.
   
• Any indicative break above 96.80 will take the index to next level till 97.25/98/98.40. The minor resistance is at 96.45.
   
• On the lower side, major support is around 96.59 (61.8% retracement of 95.83 and 96.78) and violation below targets 96..15/95.80/95.20 (200 4H MA).

It is good to buy above 96.80 with SL around 95.81 for the TP of 98.40/99.