US Dollar Index Technical Analysis: DXY bulls parked below the 2018 high getting ready for a breakout
- The US Dollar Index (DXY) is trading in a bull trend above the 200-day simple moving average.
- DXY is moving up in a tight bull channel as the RSI and MACD indicators are in positive territories. The Stochastic is already in the overbought zone.
- Bulls would need to break above 96.99 (2018 high) on a daily closing basis in order to break the strong resistance and continue the bull trend towards 97.87 (June 20, 2017).
DXY daily chart
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Trend: Bullish
Resistance 1: 96.99 current 2018 high
Resistance 2: 97.87 June 20, 2017
Resistance 3: 98.00 figure
Support 1: 96.41 August 20 high
Support 2: 96.00 figure
Support 3: 95.65 multi-month resistance (key level)
Support 4: 95.52 August 6 high
Support 5: 95.24 July 13 high
Additional key levels at a glance:
Dollar Index Spot
Overview:
Last Price: 96.69
Daily change: 28 pips
Daily change: 0.290%
Daily Open: 96.41
Trends:
Daily SMA20: 95.72
Daily SMA50: 95.21
Daily SMA100: 95.06
Daily SMA200: 93
Levels:
Daily High: 96.86
Daily Low: 96.28
Weekly High: 96.86
Weekly Low: 95.47
Monthly High: 95.74
Monthly Low: 93.81
Daily Fibonacci 38.2%: 96.5
Daily Fibonacci 61.8%: 96.64
Daily Pivot Point S1: 96.17
Daily Pivot Point S2: 95.94
Daily Pivot Point S3: 95.59
Daily Pivot Point R1: 96.75
Daily Pivot Point R2: 97.1
Daily Pivot Point R3: 97.33