- The index lost momentum after testing once again the 95.70/75 band, coincident with tops seen earlier in August.
- The greenback came under renewed selling pressure on Wednesday, eroding gains and breaking below the key 21-day SMA at 95.54. Support has so far emerged in the 95.00 neighbourhood for the time being.
- In the meantime, the outlook for the buck stays constructive as long as the support line holds, with the immediate target at recent highs above 95.70 ahead of the 96.00 handle.
DXY daily chart
Daily high: 95.21
Daily low: 94.94
Support Levels
S1: 94.92
S2: 94.69
S3: 94.32
Resistance Levels
R1: 95.52
R2: 95.89
R3: 96.12
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