- The US Dollar Index is in a bull trend above the 50, 100 and 200-period simple moving averages (SMA). However, the SMAs are flattening which is a sign of weakness for bulls.
- DXY broke below the 95.65 key level. The Stochastic indicator is in overbought condition while the RSI is weakening.
- In the absence of a quick bullish intervention to drive the market above 96.00 figure, the US Dollar Index is poised to continue to decline towards 95.00 and 93.00 figure.
DXY daily chart
Spot rate: 95.53
Relative change: -0.07%
Trend: Bullish above 96.00
Resistance 1: 95.65 July 19 high (key level)
Resistance 2: 96.41 August 20 high
Resistance 3: 97.00 current 2018 high
Support 1: 95.52 August 6 high
Support 2: 95.24 July 13 high
Support 3: 95.00 figure
Support 4: 94.91 July 27 high
Support 5: 93.00 figure
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