Dollar Index Technical Analysis: Pullback has ended

• The dollar index (DXY) hourly chart shows an upside break of the falling trendline and an inverse head-and-shoulders breakout.
• So, the pullback from the recent high of 95.53 has ended, however, upside may lose momentum as the hourly RSI is flashing overbought conditions.

Hourly chart

Spot Rate: 94.73

Daily High: 94.79

Daily Low: 94.69

Trend: Cautiously bullish

Resistance

R1: 95.02 (May 29 high)

R2: 95.30 (June 19 high)

R3: 95.53 (June 21 high)

Support

S1: 94.69 (session low)

S2: 94.47 (inverse head-and-shoulders neckline support)

S3: 94.00 (psychological support)