- Volatile session for the greenback so far on Wednesday, now coming under pressure after another failed test at the 95.40/50 band.
- The index needs to close above Monday’s peaks just beyond 95.50 to allow a bull run to YTD peaks in the 95.60/65 region. Initial contention emerges in the 95.00 neighbourhood, while the 10-day SMA at 94.89 also reinforces the area.
- Further out, the prospects for the buck remain constructive while above the short-term support line, today at 94.41, and the top of the daily cloud.
DXY daily chart
Daily high: 95.06
Daily low: 94.61
Support Levels
S1: 94.99
S2: 94.80
S3: 94.61
Resistance Levels
R1: 95.37
R2: 95.56
R3: 95.75
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