- The index is fading part of yesterday’s advance and is returning to the 94.70/65 band, always with headlines from the EM FX space and US-China trade spat as exclusive drivers of the global sentiment.
- DXY is now attempting to stabilize just below the (now) support line off June’s low in the 93.70 region, today around 94.90 and coincident with recent weekly peaks.
- The resurgence of the upside momentum should meet interim hurdle at recent tops around 94.90. This area is reinforced by the proximity of the 10-day SMA at 95.07, all ahead of the 95.70/75 band, tops seen earlier in the month.
DXY daily chart
Daily high: 94.82
Daily low: 94.55
Support Levels
S1: 94.47
S2: 94.25
S3: 94.04
Resistance Levels
R1: 94.90
R2: 95.11
R3: 95.33
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