DXY Technical Analysis: Supported in the 94.40 region, reinforced by the 100-day SMA

  • The index is now seeing some relief and manages to regain the positive territory after four consecutive daily pullbacks, finding decent contention in the 94.40 zone once again.
  • This area of support is reinforced by the proximity of the 100-day SMA (94.48). The loss of this area could spark a deeper retracement to the Fibo retracement of the 2017-2018 drop at 94.08 and a potential test of July’s low at 93.71.
  • Looking north, DXY should regain the (now) resistance line at 95.20, although the 55-day SMA (95.05), the 10-day SMA (95.06) and the 21-day SMA (95.13) should offer interim resistance.

DXY daily chart

 

 

 

 

 

Daily high: 94.76

Daily low: 94.36

Support Levels

S1: 94.32

S2: 94.11

S3: 93.78

Resistance Levels

R1: 94.86

R2: 95.19

R3: 95.40

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 securities. 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 Forex 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.