DXY Technical Analysis: The index remains supported around 94.45/40

• The index is looking to regain the smile today and is staging a rebound to the 94.80 region after testing once again the 94.45/40 band, where solid support appears to have emerged.
• The buck’s immediate target is now at the critical (now resistance/former support) line around 94.90, above which the index should regain composure and the constructive tone.
• In case the upside impulse gains traction, interim resistance aligns at the 55-day SMA at 95.01 ahead of the 21-day SMA at 95.54. Further up, last week’s tops in the 95.70 region should come to the fore.

DXY daily chart

Daily high: 94.90

Daily low: 94.47

Support Levels

S1: 94.40

S2: 94.27

S3: 94.00

Resistance Levels

R1: 94.80

R2: 95.07

R3: 95.20