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  • 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