- The US Dollar Index (DXY) main bull trend is transitioning into a neutral to bearish trend.
- DXY strongly broke below 94.43 August 28 swing low and the 100-day simple moving average (DMA) as the head-and-shoulders pattern put heavy bearish pressure on the Greenback. The main targets to the downside are seen near 93.71 (July 9 swing low), 93.71 (July 9 swing low) and 92.24 (May 14 swing low).
- The RSI, MACD and Stochastics are bearishly configured and remains supportive of lower prices ahead.
DXY daily chart
Spot rate: 93.90
Relative change: -0.70%
High: 94.56
Low: 93.83
Trend: Neutral to bearish
Resistance 1: 94.43-51 August 28 swing low, 100-day SMA
Resistance 2: 94.91 July 27 high
Resistance 3: 95.00 figure
Resistance 4: 95.24 July 13 high
Resistance 5: 95.52 August 6 high
Resistance 6: 95.65 July 19 high
Support 1: 93.71 July 9 swing low
Support 2: 93.71 July 9 swing low
Support 3: 92.24 May 14 swing low