- The index is looking to regain the smile today and is staging a rebound to the 94.80 region after testing once again the 94.45/40 band, where solid support appears to have emerged.
- The buck’s immediate target is now at the critical (now resistance/former support) line around 94.90, above which the index should regain composure and the constructive tone.
- In case the upside impulse gains traction, interim resistance aligns at the 55-day SMA at 95.01 ahead of the 21-day SMA at 95.54. Further up, last week’s tops in the 95.70 region should come to the fore.
DXY daily chart
Daily high: 94.90
Daily low: 94.47
Support Levels
S1: 94.40
S2: 94.27
S3: 94.00
Resistance Levels
R1: 94.80
R2: 95.07
R3: 95.20
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