- The US Dollar Index is trading in a bull trend on the daily chart as it is evolving above the 200-day simple moving average (SMA).
- DXY is holding just above the 100-day simple moving average as the market tried to break below it earlier this Tuesday.
- The RSI is below the 50 line, the MACD is turning bearish while the Stochastic indicator is pointing downwards. The context is suggesting that a continuation down towards 94.43 (August 28 swing low) can be likely on a break below the 100 SMA. However, a bullish break above 96.00 on a daily closing basis would invalidate the bearish bias.
DXY daily chart
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Spot rate: 95.09
Relative change: 0.02%
High: 95.20
Low: 94.79
Trend: Bullish
Resistance 1: 95.24 July 13 high
Resistance 2: 95.52 August 6 high
Resistance 3: 95.65 July 19 high (key level)
Resistance 4: 96.00 figure
Resistance 5: 96.41 August 20 high
Resistance 6: 97.00 current 2018 high
Support 1: 95.00 figure
Support 2: 94.91 July 27 high
Support 3: 94.43 August 28 swing low
Support 4: 93.81 September 21 swing low (key level)
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