DXY Technical Analysis: Downside pressure could see the support line tested, today at 94.72

• The decline in the index remains unabated for yet another session on Wednesday and is now threatening to break below the critical support at 95.00 the figure.
• DXY is down for the fifth session in a row so far, quickly breaching the 10-day SMA and the 21-day SMA at 96.05 and 95.41, respectively, after US political jitters have re-emerged following recent headlines placing President Trump in the centre of a conspiracy to influence on an election.
• The continuation of the selling impetus could test the 55-day SMA at 94.88 ahead of the key support line off June’s low, today near 94.70. The constructive view, however, is expected to persist while above this line.

DXY daily chart

Daily high: 95.38

Daily low: 94.96

Support Levels

S1: 94.95

S2: 94.66

S3: 94.23

Resistance Levels

R1: 95.67

R2: 96.10

R3: 96.39