US Dollar Index Technical Analysis: DXY supported at 94.43 swing low and 100-day simple moving average

  • The US Dollar Index (DXY) is trading in a bull trend but made little progress since late May.
  • DXY traded below 94.43-45 (August 28 swing low, 100-day SMA) where bulls showed up and supported the market. Bulls objective is to break above 95.65 (July 19 high) in order to start making higher highs. 
  • However, a bear breakout below 94.43-45 (August 28 swing low, 100-day SMA) would likely see an acceleration down towards 93.71 (July 9 swing low) and 93.17 (June 14 swing low). 

DXY daily chart

Spot rate:                 94.96
Relative change:      0.44%
High:                        95.00
Low:                         94.36

Trend:                      Bullish
Short-term:              Bearish below 95.65

Resistance 1:         95.00 figure
Resistance 2:         95.24 July 13 high
Resistance 3:         95.52 August 6 high
Resistance 4:         95.65 July 19 high
Resistance 5:         96.00 figure
Resistance 6:         97.00, 2018 high

Support 1:               94.91 July 27 high 
Support 2:               94.43-45 August 28 swing low, 100-day SMA
Support 3:               93.71 July 9 swing low
Support 4:               93.17 June 14 swing low
Support 5:               92.24 May 14 swing low

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.