US Dollar Index Technical Analysis: DXY rotation down has started below 95.65 key level

• The US Dollar Index is in a bull trend above the 50, 100 and 200-period simple moving averages (SMA). However, the SMAs are flattening which is a sign of weakness for bulls.
• DXY broke below the 95.65 key level. The Stochastic indicator is in overbought condition while the RSI is weakening.  
• In the absence of a quick bullish intervention to drive the market above 96.00 figure, the US Dollar Index is poised to continue to decline towards 95.00  and 93.00 figure.

DXY daily chart

Spot rate:                 95.53
Relative change:     -0.07%
High:                        95.80
Low:                         95.38

Trend:                     Bullish above 96.00

Resistance 1:         95.65 July 19 high (key level)
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:               93.00 figure