US Dollar Index Technical Analysis: DXY bull flag holding on above 93.50

• US Dollar Index (DXY) gapped up on Tuesday but without any bullish follow through, however, DXY remains potentially bullish above 93.21 June 7 swing low. It is now finding support near an ascending trendline (black).
• US Dollar Index (DXY) has gained about 5% since mid-April and the current bear trend is seen as a bull flag or pullback for bulls.
• On the other hand, a bear breakout below 93.21 swing low can invalidate the bull flag and lead to a retest of 92.81, 38% Fibonacci retracement (mid-April-late June bull run).

DXY 15-minute chart

Spot rate:                93.54
Relative change:     -0.04%      
High:                       93.90
Low:                        93.47

Trend:                     Bullish above 93.21

Resistance 1:         93.66, 23.6% Fibonacci retracement (mid-April-late June bull run)  
Resistance 2:         94.45 June 1, swing high
Resistance 3:         95.03 current 2018 high

Support 1:              93.21 June 7 swing low
Support 2:              92.81, 38% Fibonacci retracement (mid-April-late June bull run)  
Support 3:              92.24, May 14 swing low