Products You May Like
- The US Dollar Index (DXY) is progressing in a bull channel as the market found support at 94.43 this week.
- DXY is now trading above its 50, 100 and 200-day simple moving average suggesting bullish momentum.
- The next bull target is located at 95.65 (July 19 high). A bear breakout below (94.43 August 28 swing low) would invalidate the bull bias.
DXY daily chart
Spot rate: 95.09
Relative change: 0.43%
High: 95.23
Low: 94.55
Trend: Bullish
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: 96.51 July 05, 2017 high
Support 1: 94.91 July 27 high
Support 2: 94.61 August 2, low
Support 3: 94.43 August 28 swing low
Support 4: 94.08 July 26 swing low
Support 5: 93.71 July 9 swing low
Support 6: 92.24 May 14 low
This article was originally published by Fxstreet.com. Read the original article here.