US Dollar Index Technical Analysis: Perfect equilibrium ahead of the US mid-term elections

• The US Dollar Index (DXY) is trading in a bull trend above the 200-day simple moving average ahead of the US mid-term elections.
• DXY is trading little changed from Monday’s close as the market is eagerly awaiting the results of the US elections.  
• The market is almost in a perfect balance with bulls having the main trend on their side. Bulls objective is to recapture the 2018 high at 97.20 while bears want to break below 96.00 figure.

DXY daily chart

Trend:                     Bullish

Resistance 1:         97.00 former 2018 high
Resistance 2:         97.20 current 2018 high
Resistance 3:         97.87 June 20, 2017
Resistance 4:         98.00 figure

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

Additional key levels at a glance: