- The greenback came under some selling pressure in early trade, forcing the index to visit lows near 94.90, although regaining some buying interest soon afterwards.
- DXY once again tested and bounced off the critical shorty-term support line in the 95.00 neighbourhood, therefore maintaining the constructive bias in the near-to-medium terms.
- Initial and interim hurdle lies at 95.42, where is located the 21-day SMA ahead of last week’s tops above 95.70. A move further north should target the 50% Fibo retracement of the 2017-2018 drop at 96.04.
DXY daily chart
Daily high: 95.35
Daily low: 94.87
Support Levels
S1: 94.94
S2: 94.71
S3: 94.40
Resistance Levels
R1: 95.48
R2: 95.79
R3: 96.02
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