US Dollar Index Technical Analysis: DXY finds bullish support at the 100-day simple moving average

The US Dollar Index is trading in a bull trend on the daily chart above the 200-day simple moving average (SMA).
Bulls will try to support the market above the 100 SMA while bears will try to keep the market below 95.65 (July 19 high) key level. The falling MACD and Stochastic indicators are suggesting a bearish continuation.
Alternatively, a bull breakout above 95.65-96.00 zone would likely lead to a strong bullish continuation of the bull trend.

Flavio Tosti Independent Analyst

DXY daily chart

Spot rate: 95.27
Relative change: 0.25%
High: 95.37
Low: 94.95

Trend: Bullish

Resistance 1: 95.24 July 13 high
Resistance 2: 95.52 August 6 high
Resistance 3: 95.65 July 19 high (key level)
Resistance 4: 96.41 August 20 high
Resistance 5: 97.00 current 2018 high

Support 1: 95.00 figure
Support 2: 94.91 July 27 high
Support 3: 93.81 September 21 swing low (key level)

Author

Flavio Tosti

Independent Analyst

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