The US Dollar Index (DXY) has been essentially trading in a range since mid-May (orange rectangle). DXY is holding above a trendline from May 14 and near the 50-period simple moving average (daily). As DXY is evolving in rising wedge (daily chart), the bullish structure is slowly weakening and a bear breakout below 94.08 and 93.71 could lead to a drop towards 92.24, May 14 low. On the other hand, if bulls manage to keep DXY above 94.08 they would need to overcome 94.91 and 95.24 July 13 high. DXY 15-minute chart DXY daily chart Spot rate: 94.36 Relative change: -0.32% High: 94.76 Low: 94.26 Trend: Neutral Resistance 1: 94.44 June 1, swing high Resistance 2: 94.83 May 29 close Resistance 3: 94.91 July 27 swing high Resistance 4: 95.24 July 13 high Resistance 5: 95.65 current 2018 high Resistance 6: 96.00 figure Resistance 7: 96.51 July 05, 2017 Support 1: 94.08 July 26 swing low Support 2: 93.71 July 9 swing low Support 3: 92.24 May 14 low FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD Review: 0.74 remains the level to beat for Aussie traders FX Street 5 years The US Dollar Index (DXY) has been essentially trading in a range since mid-May (orange rectangle). DXY is holding above a trendline from May 14 and near the 50-period simple moving average (daily). As DXY is evolving in rising wedge (daily chart), the bullish structure is slowly weakening and a bear breakout below 94.08 and 93.71 could lead to a drop towards 92.24, May 14 low. On the other hand, if bulls manage to keep DXY above 94.08 they would need to overcome 94.91 and 95.24 July 13 high. DXY 15-minute chart DXY daily chart Spot rate: … Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
