Dollar Index Technical Analysis: Faces bear flag breakdown

• The dollar index (DXY) is flirting with a bear flag breakdown, the 15-minute chart shows.
• The bearish breakdown would signal a resumption of the sell-off from the recent high of 94.97 and would open the doors to 92.74 (target as per the measured height method).

15-minute chart

Current Rate: 94.02

Daily High: 94.16

Daily Low: 93.98

Trend: Risks bear flag breakdown

Resistance

R1: 94.16 (session high)

R2: 94.44 (previous day’s high)

R3: 95.03 (May 29 high)

Support

S1: 93.98 (session low)

S2: 93.71 (May 31 low)

93.29 (May 22 low)