US Dollar Index Technical Analysis: DXY drops to 95.82 support on Fed dovishness

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DXY daily chart

  • The US Dollar Index (DXY) is trading in a bull trend above its 200-day simple moving average (SMA).
  • DXY dropped to the 96.10 and 95.82 levels as the FOMC turned out to be more dovish than expected.

DXY 4-hour chart

  • DXY is trading below its main SMAs suggesting bearish momentum in the medium-term.
  • The pullback up can find initial resistance at 96.15 and 96.27 level.
  • Supports to the downside are at 96.82 and 96.60 level.

 

Additional key levels

 

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