- DXY has once again failed to extend the rally beyond the 95.50 region, sparking quite a moderate knee-jerk to the current vicinity of the 95.00 region.
- The index should find initial contention around yesterday’s low just below the 95.00 handle. Further south, the 10- and 21-day SMA at 94.79 and 94.75, respectively, should offer additional support.
- A more sustainable breakout of the 95.50 region is needed in order to challenge the YTD peaks in the 95.60/65 band. Additionally, the positive outlook in the index is expected to remain unchanged while above the support line, today at 94.37, and the daily cloud.
DXY daily chart
Daily high: 95.37
Daily low: 95.04
Support Levels
S1: 95.21
S2: 95.04
S3: 94.89
Resistance Levels
R1: 95.53
R2: 95.68
R3: 95.85
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