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

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