DXY Technical Analysis: Constructive outlook persists above the support line at 94.40
|- The greenback has returned to the positive territory in the second half of the week, always managing well to keep business above the psychological 95.00 handle.
- Prospects for further upside remain intact while above the short-term support line, today around 94.40. This idea is reinforced as long as DXY trades above the daily cloud.
- If we look to the opposite direction, sellers met a strong hurdle in the 95.00 neighbourhood so far. In addition, the 10-day SMA at 94.93 also adds strength to this area of contention.
- A breakout of the critical 95.50 level should pave the way for a test of YTD peaks in the 95.60/65 band ahead of the 50% Fibo retracement of the 2017-2018 drop at 96.04.
DXY daily chart
Daily high: 95.34
Daily low: 95.03
Support Levels
S1: 94.93
S2: 94.74
S3: 94.50
Resistance Levels
R1: 95.36
R2: 95.60
R3: 95.79
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