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  • The index is looking to revert two consecutive daily pullbacks at the beginning of the week, although gains appear capped around the 96.40 region for the time being.
  • In the meantime, the positive outlook around the buck remains unchanged as long as the short-term support line underpins, today at 94.66.
  • DXY corrected lower following the bearish divergence in the daily RSI, with support has firmly emerged near the 96.00 handle, where is located the 10-day SMA and is reinforced by the 50% Fibo retracement of the 2017-2018 drop at 96.04. If 96.00 is cleared, the next stop aligns at the 200-week SMA at 95.50 ahead of the 55-day SMA at 95.38.

DXY daily chart

 

 

 

 

 

 

 

Daily high: 96.41

Daily low: 96.10

 

Support Levels

S1: 95.92

S2: 95.72

S3: 95.35

 

Resistance Levels

R1: 96.49

R2: 96.86

R3: 97.06