Harmonic pattern formed - Bearish Gartley pattern
DXY is trading higher for past two weeks and jumped more than 200 pips on account of broad based US dollar buying. The index hits high of 97.20 and is currently trading around 97.09.
On the higher side near term resistance is around 97.20 and any violation above targets 97.50/97.71. The index should break above 97.75 for further bullishness.
The near support is around 96.70 and any break below will take the index to next level till 96.22/96.06 (200- 4H MA).Any violation below 96 targets 95.16/95.
It is good to sell on rallies around 97.15-97.20 with SL around 97.75 for the TP of 95.95/95.16.