US Dollar Index Technical Analysis: DXY having small correction up after Thursday’s selloff
|- The US Dollar Index (DXY) bull trend is transitioning into a neutral to bearish trend as the market broke below the 100-day simple moving average (DMA).
- DXY had a small reaction up after the sell-off seen on Thursday but the move seem only corrective at this stage. The RSI, MACD and Stochastics indicators are in negative territories suggesting bearish momentum.
- Bears targets are 93.71 July 9 swing low and 93.17 June 14 swing low.
DXY daily chart
Spot rate: 94.21
Relative change: 0.33%
High: 94.33
Low: 93.81
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: 93.17 June 14 swing low
Support 3: 92.24 May 14 swing low
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.