- The greenback drops to fresh 4-day lows, although decent contention emerged in the 94.50/45 band, coincident with the hourly high recorded on July 10, the 200-hour SMA and the 10-day SMA.
- The prospect for the buck stays constructive for the time being as the area around 94.50 still underpins. However, it needs to clear Friday’s peak at 95.24 in order to reassert the upside pressure and open the door for a potential test of the mid-95.00s.
- Once cleared, the psychological handle at 96.00 the figure should be back on investors’ radars ahead of 96.51, monthly high July 2017.
DXY Hourly chart
Daily high: 94.77
Daily low: 94.41
Support Levels
S1: 94.43 10-day SMA/200-hour SMA
S2: 94.04 55-day SMA, Fibo retracement
S3: 93.71 low July 9
Resistance Levels
R1: 95.24 high July 13
R2: 95.25 200-week SMA
R3: 95.53 2018 high June 28
Share
