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US Dollar Index Technical Analysis: The mid-96.00s keeps holding the downside in the greenback

2019-06-21 16:15

  • The leg lower in the buck has met decent contention in the mid-96.00s for the time being, where converge the 200-day SMA, the multi-month support line and monthly lows.

  • Initially, a deeper pullback could see the Fibo retracement at 96.04 re-visited, while a test of 95.82 (February low) and 95.74 (march low) remains on the cards in case the selling impulse accelerates.

  • A resumption of the bullish stance should find initial target at the 97.29/42 band, where coincide the 21-day and 55-day SMAs.



DXY daily chart







 


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