- The US Dollar Index is trading above its 50, 100 and 200-day simple moving averages (SMA) within a bull channel. However, DXY is pretty much where it was on June 21, not having made much progress for a bull trend in almost three months.
- The Greenback has been going back and forth for the sixth consecutive day in a narrow range between 95.00 and 95.65 just above the 50 SMA.
- The bull trend is losing steam and a breakout above 95.65 is needed if bulls do not want a rotation down towards 94.91 July 27 high.
DXY daily chart
Spot rate: 95.15
Relative change: -0.27%
Resistance 1: 95.52 August 6 high
Resistance 2: 95.65 July 19 high
Resistance 3: 96.00 figure
Resistance 4: 97.00, 2018 high
Support 1: 95.24 July 13 high
Support 2: 95.00 figure
Support 3: 94.91 July 27 high
Support 4: 94.43 August 28 swing low
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