US Dollar Index Technical Analysis: Greenback bulls erase daily losses as they close above 96.00 figure

The US Dollar Index (DXY) is trading in a bull trend above the 200-day simple moving average.
DXY erases early daily losses stemming from the reaction to the US mid-term elections. Bulls found support at 95.65 (multi-month resistance) and their objective is to drive the market back up to 97.00.
However, it remains to be seen how high the market can go as the RSI, MACD and Stochastic indicators are turning bearish.

Flavio Tosti Independent Analyst

DXY daily chart

Trend: Bullish

Resistance 1: 96.41 August 20 high
Resistance 2: 97.00 former 2018 high
Resistance 3: 97.20 current 2018 high
Resistance 4: 97.87 June 20, 2017
Resistance 5: 98.00 figure

Support 1: 96.00 figure
Support 2: 95.65 multi-month resistance (key level)
Support 3: 95.52 August 6 high
Support 4: 95.24 July 13 high

Additional key levels at a glance:

Dollar Index Spot

Overview:
    Last Price: 96.2
    Daily change: -3.0 pips
    Daily change: -0.0312%
    Daily Open: 96.23
Trends:
    Daily SMA20: 96.04
    Daily SMA50: 95.41
    Daily SMA100: 95.21
    Daily SMA200: 93.24
Levels:
    Daily High: 96.45
    Daily Low: 96.14
    Weekly High: 97.2
    Weekly Low: 95.99
    Monthly High: 97.2
    Monthly Low: 94.79
    Daily Fibonacci 38.2%: 96.26
    Daily Fibonacci 61.8%: 96.33
    Daily Pivot Point S1: 96.1
    Daily Pivot Point S2: 95.96
    Daily Pivot Point S3: 95.79
    Daily Pivot Point R1: 96.41
    Daily Pivot Point R2: 96.58
    Daily Pivot Point R3: 96.72

Author

Flavio Tosti

Independent Analyst

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