USD Dollar Index Technical Analysis: Greenback bulls counter-attack and reach 95.00 level

The US Dollar Index (DXY) main bull trend is transitioning into a neutral one as DXY is coiling around 95.00 since late May.
DXY broke above 94.43-60 zone (August 28 swing low, 100-day SMA) and reached the 50-day simple moving average (DMA) near 95.00 figure.
The RSI, MACD and Stochastics are picking up some steam suggesting bullish momentum. Targets to the upside are seen near 95.52 (August 6 high) and 95.65 (July 19 high). A bear breakout below 93.71 (July 9 swing low) would invalidate the bullish bias.

Flavio Tosti Independent Analyst

DXY daily chart

Spot rate: 94.99
Relative change: 0.81%
High: 94.21
Low: 95.00

Trend: Bullish

Resistance 1: 94.43-60 zone, August 28 swing low, 100-day SMA
Resistance 2: 94.91 July 27 high
Resistance 3: 95.00 figure
Resistance 4: 95.24 July 13 high
Resistance 5: 95.52 August 6 high
Resistance 6: 95.65 July 19 high

Support 2: 93.71 July 9 swing low
Support 3: 93.17 June 14 swing low
Support 4: 92.24 May 14 swing low

Author

Flavio Tosti

Independent Analyst

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