• DXY holds onto recent gains post-FOMC Minutes, refreshes intraday high.
  • Six-week-old resistance line lures buyers, 50-DMA also restrict nearby downside.
  • Sustained bounce off monthly horizontal support, steady RSI favor bulls.

US Dollar Index (DXY) extends the Fed Minutes-led gains around 96.20 during early Thursday.

The greenback gauge dropped briefly below the 10-DMA before the FOMC Minutes triggered a rebound from 95.88 level. The recovery moves also take clues from the steady RSI and the quote’s ability to defend the monthly horizontal support.

That said, the US Dollar Index bulls currency aim for a descending resistance line from November 24, around 96.45.

However, any further upside will be challenged by 96.65 and the 97.00 threshold, not to forget multiple tops marked in November and December around 96.90-95.

Alternatively, 10-DMA and 50-DMA challenge the short-term downside of the DXY, around 96.05 and 95.75 respectively, ahead of the stated monthly horizontal support area near 95.60-55.

Following that, an ascending trend line from September, close to 94.97, will be crucial to watch.

To sum up, DXY bulls keep reins but have a bumpy road ahead.

DXY: Daily chart

Trend: Further upside expected

Additional impotant levels

Today last price 96.16
Today Daily Change 0.00
Today Daily Change % 0.00%
Today daily open 96.16
Daily SMA20 96.19
Daily SMA50 95.71
Daily SMA100 94.53
Daily SMA200 93.05
Previous Daily High 96.33
Previous Daily Low 95.89
Previous Weekly High 96.39
Previous Weekly Low 95.57
Previous Monthly High 96.92
Previous Monthly Low 95.57
Daily Fibonacci 38.2% 96.06
Daily Fibonacci 61.8% 96.16
Daily Pivot Point S1 95.92
Daily Pivot Point S2 95.68
Daily Pivot Point S3 95.48
Daily Pivot Point R1 96.37
Daily Pivot Point R2 96.57
Daily Pivot Point R3 96.81



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