DXY Technical Analysis: Looks consolidative near term. Keeps flirting with the short-term support line

• The index came under some selling pressure on Wednesday, prolonging the rangebound theme around the key 95.00 area.
• In the meantime, the short-term support line around 95.15 keeps holding on and leaves the buck’s constructive bias unchanged when trades above it.
• In case of another bullish attempt, immediate hurdle enmerges at the 21-day SMA at 95.34 ahead of September’s top at 95.74. Further up, the 50% Fibo retracement of the 2017-2018 drop at 96.04 awaits.

DXY daily chart

Daily high: 95.28

Daily low: 95.04

Support Levels

S1: 94.84

S2: 94.62

S3: 94.36

Resistance Levels

R1: 95.32

R2: 95.58

R3: 95.80