- The index is prolonging the weekly leg lower for the second session in a row today after failing just ahead of 94.90 on Tuesday.
- However, the constructive outlook in the buck stays well and sound while above the immediate support line, today around 94.12.
- DXY needs to regain and close above Tuesday’s peak at 94.90 in order to resume the upside pressure and allow another potential challenge to levels above 95.00 the figure.
- In the meantime, on the daily chart, the buck continues to trade above the cloud and within a broad sideline theme prevailing since June.
DXY daily chart
Daily high: 94.67
Daily low: 94.43
Support Levels
S1: 94.38
S2: 94.16
S3: 93.92
Resistance Levels
R1: 94.84
R2: 95.08
R3: 95.30
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