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US Dollar Index Technical Analysis: Greenback bulls opening the gates to a retest of the 2018 high

  • The US Dollar Index (DXY) broke an important resistance level at 95.65 which is a multi-month resistance line.  
  • The RSI, MACD and Stochastics are in full bull mode while DXY is trading above its main daily simple moving averages.  
  • As it stands DXY seems to be ready to retest the 2018 high at the 97.00 figure.  

DXY daily chart

Spot rate:                 95.79
Relative change:      0.33%
High:                        95.82
Low:                         95.25

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

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