- The US Dollar Index (DXY) is trading above its 50, 100 and 200-day simple moving averages within a slightly ascending channel suggesting that the main trend is bullish.
- DXY has regained some of the lost ground in the last two days but the market will need to break above the 95.65 resistance level in order to reach 97.00, the 2018 high. The move up today was attributed to a better than anticipated Nonfarm Payrolls (NFP) for August at 201K vs. 191K expected.
- A bear breakout below 94.43 would invalidate the bullish bias.
DXY daily chart
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Spot rate: 95.41
Relative change: 0.41%
High: 95.46
Low: 94.88
Trend: Bullish
Resistance 1: 95.52 August 6 high
Resistance 2: 95.65 July 19 high
Resistance 3: 96.00 figure
Resistance 4: 97.00, 2018 high
Support 1: 95.24 July 13 high
Support 2: 95.00 figure
Support 3: 94.91 July 27 high
Support 4: 94.43 August 28 swing low
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