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  • The US Dollar Index (DXY) bull trend is transitioning into a neutral to bearish one as the market broke below the 100-day simple moving average (DMA).  
  • The market is consolidating for the second consecutive day above 93.71 (July 9 swing low) as bulls are attempting to slow down the bearish slide.  However, the RSI, MACD and Stochastics indicators are in bearish territories suggesting further weakness.
  • Bulls failure to recapture 94.43 (August 28 swing low) and the 94.60 (100 DMA) would lead to more DXY weakness with 93.71 (July 9 swing low) and 93.17 (June 14 swing low) as main targets.  

DXY daily chart

Spot rate:                 94.26
Relative change:     0.06%
High:                        94.37
Low:                         93.84

Trend:                     Neutral to bearish

Resistance 1:         94.43-60 August 28 swing low, 100-day SMA
Resistance 2:         94.91 July 27 high  
Resistance 3:         95.00 figure
Resistance 4:         95.24 July 13 high
Resistance 5:         95.52 August 6 high
Resistance 6:         95.65 July 19 high

Support 1:               93.71 July 9 swing low
Support 2:               93.17 June 14 swing low
Support 3:               92.24 May 14 swing low