- The index is eroding last Friday’s advance after a promising start above the 94.00 handle.
- However, the better mood in the riskier universe plus a hawkish message from ECB’s Draghi at the Parliament prompted USD-bears to step in.
- DXY needs to ideally regain the 95.00 area to alleviate the downside pressure. In that region converge the 55-day SMA and September 14 high, all ahead of the short-term (now) resistance line at 95.41.
DXY daily chart
Daily high: 94.37
Daily low: 93.84
Support Levels
S1: 93.90
S2: 93.59
S3: 93.38
Resistance Levels
R1: 94.42
R2: 94.63
R3: 94.94
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