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.

Pablo Piovano FXStreet

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

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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