US Dollar Index Technical Analysis: Greenback surges more than 1% as DXY bulls reach 94.70
|- The US Dollar Index (DXY) broke through multiple resistances on Thursday as it rose more than 1% on the day. DXY broke above the 94.44 resistance which is June 1 swing high.
- The spike up is very strong and more buying is likely to be expected in the coming sessions.
- In the very short term, it is reasonable to expect a period of consolidation after the bull breakout.
DXY 15-minute chart
Spot rate: 94.70
Relative change: 1.30%
High: 94.70
Low: 93.19
Trend: Bullish
Resistance 1: 94.83 May 29 close
Resistance 2: 95.03 current 2018 high
Resistance 3: 96.00 figure
Support 1: 94.44 June 1, swing high
Support 2: 94.00 figure
Support 3: 93.73, 200-period SMA
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