US Dollar Index Technical Analysis: DXY on the verge of a bull breakout to the 2018 high

The US Dollar Index (DXY) is trading in a bull trend above the 200-day simple moving average (SMA).
DXY bulls came back this Monday driving the market near the October highs as all indicators are in bullish territories.
Bulls seem well-positioned to have a breakout above 96.00 figure which can lead to a continuation up to 97.00 (current 2018 high).

Flavio Tosti Independent Analyst

DXY daily chart

Spot rate: 96.01
Relative change: 0.36%
High: 96.09
Low: 95.47

Trend: Bullish

Resistance 1: 96.00 figure
Resistance 2: 96.41 August 20 high
Resistance 3: 97.00 current 2018 high

Support 1: 95.65 multi-month resistance (key level)
Support 2: 95.52 August 6 high
Support 3: 95.24 July 13 high
Support 4: 95.00 figure
Support 5: 94.91 July 27 high
Support 6: 94.43 August 28 swing low
Support 7: 93.81 September 21 swing low (key level)

Author

Flavio Tosti

Independent Analyst

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