- The US Dollar Index (DXY) is en route to resuming the bulls trend as it is trading above the 50 and 100-day simple moving averages.
- Bulls need a close above 95.65, which has been a major resistance in the last months. In the absence of a breakout above 95.65, the market is seen going sideways to down in the coming sessions.
- On the flip side, a bull breakout above 95.65 would open the gates to 97.00 the current 2018 high.
DXY daily chart
Spot rate: 95.45
Relative change: 0.18%
High: 95.74
Low: 95.26
Trend: Neutral to bullish
Resistance 1: 95.52 August 6 high
Resistance 2: 95.65 July 19 high
Resistance 3: 97.00 current 2018 high
Support 1: 95.24 July 13 high
Support 2: 95.00 figure
Support 3: 94.91 July 27 high
Support 4: 94.43-60 August 28 swing low, 100-day SMA
Support 5: 93.71 July 9 swing low
Support 6: 93.17 June 14 swing low
Support 7: 92.24 May 14 swing low