- Major support – 101.05 (trend line joining 99.23 and 100.69)
- Major intraday support –100.60
- U.S. Dollar index has taken support near trend line, 21- day EMA and jumped slightly from that level. It is currently trading around 101.59.
- On the higher side, next immediate resistance is around 101.87 (61.8% retracement of 102.26 and 101.22) and any break above will take the index till 102.30/102.95 (Jan 1st 2017 high).
- The major intraday support is around 101.15 (21- day EMA) and any break below targets 100.60/100/99.25 (23.6% fibo).
- Short term bullish invalidation only below 100.60.
It is good to buy on dips around 101.45 with SL around 101 for the TP of 102.25/120.95
Resistance R1- 101.87
R2 -102.30
R3- 102.95
Support
S1-101.15
S2-100.60
S3- 100
