US Dollar Index is heading towards 97.20/30 levels

US Dollar Index has retraced to the fibonacci 0.618 levels of its recent rally between 95.89 and 96.40 respectively. A high probability bullish reversal remains possible from here, provided US Dollar Index stays above 95.78 levels. Over the short term, the US Dollar Index should be hearing towards 97.30 if 95.78 holds well. Also note that it would be breaking a resistance around 97.20 levels, entering into the buy zone of the dropping trend line as well. Overall, we maintain a bullish stance going forward.

Remain long, stop @ 95.50, target @ 97.30

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