DXY Technical Analysis: pullback met contention at the support line above 94.00.

• The buck tested fresh 2-week lows in the proximity of the 94.00 handle earlier in the session as markets were digesting the recent Trump-Juncker agreement.
• However, the down move met strong contention at the short-term support line off June’s low near 93.20, and is now staging a decent rebound.
• The constructive bias around the greenback is now threatened, although a move back above the 10-day and 21-day SMA around 94.60 should help shifting the attention back to the topside. A surpass of this area should put the recent top at 94.85 back on the radar.
• On the downside, July’s low at 93.71 should emerge as the next relevant support in case the short-term support line around 94.00 gives up.

DXY daily chart

Daily high: 94.67

Daily low: 94.43

Support Levels

S1: 94.02

S2: 93.81

S3: 93.49

Resistance Levels

R1: 94.55

R2: 94.87

R3: 95.08