- The US Dollar Index (DXY) reached a new 2018 high at 95.53 on Thursday.
- DXY is having a pullback from the new 2018 high as the market is now below the 50, 100 and 200-period simple moving average on the 15-minute chart. DXY has been evolving in a weak bull channel in the last four days as the bull momentum is progressively slowing down.
- It is reasonable to expect some profit-taking in the coming sessions as the market repositions itself for the next directional move.
DXY 15-minute chart
Spot rate: 95.00
Relative change: -0.12%
High: 95.53
Low: 94.87
Trend: Neutral
Resistance 1: 95.53 current 2018 high
Resistance 2: 96.00 figure
Resistance 3: 96.51 July 05, 2017
Support 1: 94.83 May 29 close
Support 2: 94.44 June 1, swing high
Support 3: 94.00 figure
Support 4: 93.73, 200-period SMA