US Dollar Index Technical Analysis: DXY supported above 95.00 - More ranges ahead

  • 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%
High:                        95.57
Low:                         95.03

Trend:                      Bullish 

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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