DXY Technical Analysis: Solid support emerged at 94.35/30

DXY is struggling to generate some serious traction, while the buck appears so far supported around the 94.35/30 band.
It looks like the index is attempting to consolidate in the lower end of the range, coincident with August’s lows.
Immediate hurdle in case the greenback resumes the upside remains the 94.88/95/05 band, home of the 10-, 21- and 55-day SMA ahead of the more relevant short-term now) resistance line, today at 95.25.
A deeper retracement could lead to a test of 94.20 (38.2% Fibo retracement of the 2017-2018 drop) ahead of 94.08 (late July low).

Pablo Piovano FXStreet

DXY daily chart

Daily high: 94.69

Daily low: 94.32

Support Levels

S1: 94.37

S2: 94.12

S3: 93.94

Resistance Levels

R1: 94.80

R2: 94.98

R3: 95.23

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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