- The index tested and rebounded from the short-term support line near the 94.00 handle on Thursday, charting a bullish ‘outside day’.
- Market remains constructive, although the buck needs to close above recent tops in the vicinity of 94.90 in order to allow for extra gains.
- A close above 94.85/90 should open the door for a test of the psychological handle at 95.00 the figure ahead of 2018 peaks in the 95.60/65 band.
- While above the support line – today at 94.19 – the index should keep the positive bias.
DXY daily chart / bullish ‘outside days’
Daily high: 94.83
Daily low: 94.64
Support Levels
S1: 94.31
S2: 93.84
S3: 93.61
Resistance Levels
R1: 95.01
R2: 95.24
R3: 95.71
Share
