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Trend line resistance- 98.76
DXY has shown a minor recovery after declining sharply till 97.55 level.It has formed a temporary top around 98.37and shown a minor decline of 80 pips from that level. The index made a low of 97.03 in this month and shown nice recovery of 130 pips. It is currently trading around 97.75.
The near term resistance is around 98.40 and any break above will take the index till 98.75 (trend line joining 95.15 and 96.79) /99.26/99.75.
The near term support is around 97.37 (61.8% fib) and any violation below will drag the index till 97. Any major weakness only below 97.
It is good to sell on rallies around 97.75-80 with SL around 98.20 for the TP of 97.02.
