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 assets. 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 Open Markets 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD pressured below 1.0950 after ADP, ISM beat

EUR/USD has is trading below 1.0950, under pressure. ADP's private-sector jobs report has shown a loss of only 27,000 jobs, far better than expected. The ISM Manufacturing PMI also beat with 49.1 points.


GBP/USD battles 1.24 as UK coronavirus death toll jumps by 31%

GBP/USD is trading around 1.24 The market mood is gloomy as coronavirus continues spreading. The UK's death toll jumped by 31% to 2,352. Markets are digesting US data.


Oil prices are poor predictors of recession

Crude price movement before last five recessions are ambivalent. WTI has fallen 66% since January 7 to its lowest price in 18 years. Previous sharp drops in oil did not anticipate downturns.

Read more

Gold: USD 1600 is the major pivot level but is the retracement over?

Gold has been pulling back up since the recent low on March 16th. It's amazing to think that in these uncertain times the price fell to hit a low to USD 1451.32.

Gold News

WTI drops to $20 area after EIA reports huge increase in US crude oil stocks

Crude oil prices came under renewed selling pressure in the last hour after the weekly report published by the US Energy Information Administration (EIA) showed a huge build-up in crude oil stockpiles.

Oil News