DXY Technical Analysis: Strong resistance still lies around 95.50

• Volatile session for the greenback so far on Wednesday, now coming under pressure after another failed test at the 95.40/50 band.
• The index needs to close above Monday’s peaks just beyond 95.50 to allow a bull run to YTD peaks in the 95.60/65 region. Initial contention emerges in the 95.00 neighbourhood, while the 10-day SMA at 94.89 also reinforces the area.
• Further out, the prospects for the buck remain constructive while above the short-term support line, today at 94.41, and the top of the daily cloud.

DXY daily chart

Daily high: 95.06

Daily low: 94.61

Support Levels

S1: 94.99

S2: 94.80

S3: 94.61

Resistance Levels

R1: 95.37

R2: 95.56

R3: 95.75