US Dollar Index Technical Analysis: DXY bounces from 100-day simple moving average and is about to end the day just below 95.65 key level

• The US Dollar Index (DXY) moved sharply higher this Wednesday as it is set to close the day just below 95.65 multi-month resistance.
• DXY is trading above its relatively flat 50, 100 and 200-period simple moving averages (SMA) while the RSI and Stochastic indicators are trading above the 50 line which is rather constructive for bulls.
• A break above 95.65 on a daily closing basis would be seen as a sign of strength by the bulls. The main target to the upside is the 2018 high at the 97.00 figure.

DXY daily chart

Spot rate:                 95.63
Relative change:      0.57%
High:                        95.63
Low:                         95.06

Trend:                     Bullish

Resistance 1:         95.65 multi-month resistance (key level)
Resistance 2:         96.00 figure
Resistance 3:         96.41 August 20 high
Resistance 4:         97.00 current 2018 high

Support 1:               95.52 August 6 high
Support 2:               95.24 July 13 high
Support 3:               95.00 figure
Support 4:               94.91 July 27 high  
Support 5:               94.43 August 28 swing low
Support 6:               93.81 September 21 swing low (key level)