US Dollar Index Technical Analysis: Greenback hammered down ahead of FOMC

• The US Dollar Index (DXY) has lost about 40 cents after attempting to break above Tuesday’s high.  
• Although the selling has been fairly intense, DXY is trying to find a support at the bull channel (black line).  
• The FOMC rate decision is most likely going to provide much volatility. Join the Fed Live Coverage – Today at 17:30 GMT, click here.

DXY 15-minute chart

Spot rate:                93.54
Relative change:      0.24%      
High:                       93.98
Low:                        93.57

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:              93.47 Tuesday’s low
Support 2:              93.21 June 7 swing low
Support 3:              92.81, 38% Fibonacci retracement (mid-April-late June bull run)  
Support 4:              92.24, May 14 swing low