DXY Technical Analysis: Upside remains capped in the mid-95.00s

• DXY has once again failed to extend the rally beyond the 95.50 region, sparking quite a moderate knee-jerk to the current vicinity of the 95.00 region.
• The index should find initial contention around yesterday’s low just below the 95.00 handle. Further south, the 10- and 21-day SMA at 94.79 and 94.75, respectively, should offer additional support.
• A more sustainable breakout of the 95.50 region is needed in order to challenge the YTD peaks in the 95.60/65 band. Additionally, the positive outlook in the index is expected to remain unchanged while above the support line, today at 94.37, and the daily cloud.

DXY daily chart

Daily high: 95.37

Daily low: 95.04

Support Levels

S1: 95.21

S2: 95.04

S3: 94.89

Resistance Levels

R1: 95.53

R2: 95.68

R3: 95.85