DXY Technical Analysis: Rebounds from sub-95.00. Still room for further upside

• The greenback came under some selling pressure in early trade, forcing the index to visit lows near 94.90, although regaining some buying interest soon afterwards.
• DXY once again tested and bounced off the critical shorty-term support line in the 95.00 neighbourhood, therefore maintaining the constructive bias in the near-to-medium terms.
• Initial and interim hurdle lies at 95.42, where is located the 21-day SMA ahead of last week’s tops above 95.70. A move further north should target the 50% Fibo retracement of the 2017-2018 drop at 96.04.

             DXY daily chart

Daily high: 95.35

Daily low: 94.87

Support Levels

S1: 94.94

S2: 94.71

S3: 94.40

Resistance Levels

R1: 95.48

R2: 95.79

R3: 96.02