- The US Dollar Index (DXY) bull trend is transitioning into a neutral to bearish trend as the market broke below the 100-day simple moving average (DMA).
- DXY had a small reaction up after the sell-off seen on Thursday but the move seem only corrective at this stage. The RSI, MACD and Stochastics indicators are in negative territories suggesting bearish momentum.
- Bears targets are 93.71 July 9 swing low and 93.17 June 14 swing low.
DXY daily chart
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Spot rate: 94.21
Relative change: 0.33%
High: 94.33
Low: 93.81
Trend: Neutral to bearish
Resistance 1: 94.43-51 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 1: 93.71 July 9 swing low
Support 2: 93.17 June 14 swing low
Support 3: 92.24 May 14 swing low
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