Dollar index eyeing falling trend line resistance

TVC:DXY   U.S. Dollar Currency Index
Resistance – 95.50, 95.75, 96.15

Support – 95.20-95.15, 94.94, 94.65

  • DXY’s move back above daily 5-MA followed by a break above 95.33 levels amid bullish daily RSI indicates the index could be heading higher to 95.75 levels, which is a falling trend line resistance on the daily chart .
  • A day end closing above 95.75 would expose 96.16 levels (monthly 5-MA).
  • Conversely, rejection at trend line resistance followed by a break below 95.20 levels on day end closing basis could signal the corrective rally from May 3 low of 91.92 has ended.

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