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  • The US Dollar Index (DXY) is trading in a bull trend above the 200-day simple moving average.
  • DXY rejected the 97.00 level and closed in the red. Bulls will try to support the market but they need to regain 97.00 or else a deeper pullback is to be expected. The RSI is pointing downwards while the Stochastic is in overbought territories. The MACD is slowing down slightly.  
  • All suggesting that a continuation of the bearish pullback is more likely with targets at 95.65 multi-month resistance and then 95.24 July 13 high.  

DXY daily chart

Trend:                     Bullish

Resistance 1:         97.20 current 2018 high
Resistance 2:         97.87 June 20, 2017
Resistance 3:         98.00 figure

Support 1:               97.00 former 2018 high
Support 2:               96.41 August 20 high
Support 3:               96.00 figure
Support 4:               95.65 multi-month resistance (key level)
Support 5:               95.52 August 6 high
Support 6:               95.24 July 13 high

Additional key levels at a glance:

Dollar Index Spot

Overview:
       Last Price:  96.29
       Daily change:  -82  pips
       Daily change:  -0.844%
       Daily Open:  97.11
Trends:
       Daily SMA20:  95.92
       Daily SMA50:  95.3
       Daily SMA100:  95.15
       Daily SMA200:  93.1
Levels:
       Daily High:  97.2
       Daily Low:  96.87
       Weekly High:  96.86
       Weekly Low:  95.47
       Monthly High:  97.2
       Monthly Low:  94.79
       Daily Fibonacci 38.2%:  97.07
       Daily Fibonacci 61.8%:  97
       Daily Pivot Point S1:  96.92
       Daily Pivot Point S2:  96.73
       Daily Pivot Point S3:  96.59
       Daily Pivot Point R1:  97.25
       Daily Pivot Point R2:  97.39
       Daily Pivot Point R3:  97.58