US Dollar Index Technical Analysis: DXY getting ready for a breakout to 2018 high ahead of NFP’s potential firework on Friday

• The US Dollar Index (DXY) is in a bull trend as it is set to end Thursday above 95.65 key level.  
• DXY is trading above its 50, 100 and 200-day simple moving averages while the RSI, MACD and Stochastics are bullishly configured. Bulls next objective is to reach the 2018 high at 97.00.  
• The US Nonfarm Payrolls on Friday is expected to lead to high volatility in the forex market and can potentially be the next catalyst for DXY to reclaim the 2018 high.

DXY daily chart

Spot rate:                 95.76
Relative change:      -0.29%
High:                        96.12
Low:                         95.56

Trend:                     Bullish

Resistance 1:         95.65 July 19 high
Resistance 2:         96.41 August 20 high
Resistance 3:         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:               94.43-60 August 28 swing low, 100-day SMA
Support 6:               93.71 July 9 swing low
Support 7:               93.17 June 14 swing low
Support 8:               92.24 May 14 swing low