US Dollar Index Technical Analysis: Greenback bulls challenging the 50-day simple moving average
|- The US Dollar Index (DXY) bulls are trying to resume the bull trend as they broke above the 100-day simple moving average.
- DXY broke above 94.43 (August 28 swing low) and is currently challenging the 50-period simple moving average. The RSI is above 50, the MACD is turning higher and the Stochastic indicator is up, suggesting bullish momentum.
- Bulls objective is to break above 95.65 July 19 high in order to reach 97.00 the current 2018 high. A bear breakout below 94.43 might invalidate the bullish bias
DXY daily chart
Spot rate: 95.19
Relative change: 0.21%
High: 95.37
Low: 94.92
Trend: Neutral to bullish
Resistance 1: 95.24 July 13 high
Resistance 2: 95.52 August 6 high
Resistance 3: 95.65 July 19 high
Support 1: 95.00 figure
Support 2: 94.91 July 27 high
Support 3: 94.43-60 August 28 swing low, 100-day SMA
Support 4: 93.71 July 9 swing low
Support 5: 93.17 June 14 swing low
Support 6: 92.24 May 14 swing low
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