- US Dollar index has formed temporary top around 95.15 and started to decline from that level. The index dipped till 94.40 at the time of writing and is currently trading around 94.48.
- The near term resistance is around 95.19 (161.8% fibo) and any break above will take the pair till 96/96.50.
- The index near term support is at 94.40 (89 4H EMA) and any break below targets 94/93.58 (38.2% retracement of 91.63 and 95.15)/93/92.23 (61.8% fibo).
It is good to buy on dips around 94.45-50 with SL around 93.98 for the Tp of 95.18/96.