As per our analysis given on Apr 3rd 2019 DXY is trading lower and lost nearly 40 pips for the day.The index has formed almost a minor double top around 97.20 and declined till 96.75 at the time of writing . The index has formed temporary top around 97.71 on Mar 7th 2019 and lost nearly 200 pips from that level till 95.74. The main reason for decline is dovish Fed minutes and easing US-China trade tensions.It is currently trading around 96.75.
The index has broken major near term support 96.85 and this confirms minor weakness a dip will take the index to next level till 96.43 (61.8% fib)/96.20.Any break below 95.74 low made on Mar 20th confirms major weakness.
On the higher side, near term resistance is at 97.20 and any break above continues to reach 97.47-52 .Any break above 97.71 confirms bullish continuation.
It is good to sell on rallies around 97 with SL around 97.22 for the TP of 96.41/96.20.
