US Dollar Index Technical Analysis: DXY soon on life support if bulls don’t break above 96.00 figure

• The US Dollar Index is trading in a bull trend above the 50, 100 and 200-period simple moving average. Although the SMA are starting to flatten which is a sign of bullish weakness.  
• DXY bulls are having a hard time to conclusively break above 95.65-96.00 zone. The long tails on top of the last bars are another sign of bullish exhaustion. The Stochastic indicator is already in overbought condition while the RSI is slowly weakening.  
• All-in-all, bulls will more likely need to step in and bring the market well above 95.65-96.00 or else bears will take the lead an try to drive it down towards 95.00 figure.  

DXY daily chart

Spot rate:                 95.74
Relative change:      -0.07%
High:                        95.68
Low:                         95.64

Trend:                     Bullish

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