- DXY is giving away part of yesterday’s gains on a resumption of the offered bias around the buck. So far, bullish attempts have succumbed in the 95.70 region.
- However, the index appears to have found decent contention in the proximity of 94.90 (weekly lows seen on Wednesday) for the time being. This area is reinforced by the 55-day SMA, today at 94.96.
- The broader picture remains unchanged, nonetheless: as long as the short-term support line – today at 94.80 – holds, the constructive bias on the buck should allow for another test of the 96.00 handle and above. The proximity of the top of the daily cloud lends extra support to this view.
DXY daily chart
Daily high: 95.69
Daily low: 95.29
Support Levels
S1: 95.26
S2: 94.88
S3: 94.66
Resistance Levels
R1: 95.86
R2: 96.08
R3: 96.46
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