- 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
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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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