DXY Technical Analysis: extending the rebound from recent test of 55-day SMA around 93.80. Next target at 94.50.

• The index is prolonging the recovery after bouncing off the 93.80 region at the beginning of the week, regaining the 94.00 mark and above.
• DXY quickly surpassed the Fibo retracement of the April-June rally in the 94.00 neighbourhood and is now headed towards the 94.50 level, hourly high recorded last Friday.
• Extra upside should come once the 10-day SMA and the 21-day SMA are cleared, at 94.45 and 94.66, respectively, paving the way for a potential re-visit to the critical 95.00 milestone.
• Daily RSI (14) stays around 54 for the time being, also indicative of a consolidative phase.

Daily high: 94.48

Daily low: 94.02

Support Levels

S1: 94.04 Fibo retracement

S2: 93.80 55-day SMA

S3: 93.71 low July 9

Resistance Levels

R1: 94.54 10-day SMA

R2: 94.62 21-day SMA

R3: 95.53 2018 high June 28