- The index advances further north of the 95.00 handle on Wednesday, clinching the second session in a row with gains and adding to yesterday’s bullish ‘outside day’.
- A new visit to YTD peaks in the mid-95.00 remains on the cards, although the greenback needs to close above 95.06 (Tuesday’s high) to add sustainability to extra gains.
- Furthermore, the upside momentum in the greenback remains propped up by the 3-month support line, today at 94.31.
- Interim and decent contention should emerge in the 94.60/70 band, where converge the 10-day SMA and 21-day SMA.
DXY daily chart
Daily high: 95.26
Daily low: 94.96
Support Levels
S1: 94.49
S2: 94.00
S3: 93.72
Resistance Levels
R1: 95.26
R2: 95.54
R3: 96.03