US Dollar Index: DXY reaches 94.24 as bulls are unable to print a new 2018 high

  • The US Dollar Index (DXY) found some resistance at the 94.24 level after bulls tried to reach the high of 2018 made on June 28 at 95.53.
  • DXY is now trying to find some support near 94.83, the May 29 close and the 200-period simple moving average which can lead to a bounce in the short-term.
  • DXY failure to establish a new 2018 high can lead to an extension of the pullback towards 94.44 June 1, swing high. 

DXY 15-minute chart

Spot rate:                94.83
Relative change:    0.00%     
High:                       95.24
Low:                        94.77

Trend:                     Bullish/bear correction
Resistance 1:         94.83 May 29 close
Resistance 2:         95.24 July 13 high
Resistance 3:         95.53 current 2018 high, June 28 
Resistance 4:         96.00 figure
Resistance 5:         96.51 July 05, 2017

Support 1:              94.83 May 29 close
Support 2:              94.44 June 1, swing high
Support 3:              94.00 figure
Support 4:              92.25, daily 200-period SMA

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