DXY Technical Analysis: further upside likely on a close above 95.06. Immediate target is at 95.53, 2018 tops.

• The index advances further north of the 95.00 handle on Wednesday, clinching the second session in a row with gains and adding to yesterday’s bullish ‘outside day’.
• A new visit to YTD peaks in the mid-95.00 remains on the cards, although the greenback needs to close above 95.06 (Tuesday’s high) to add sustainability to extra gains.
• Furthermore, the upside momentum in the greenback remains propped up by the 3-month support line, today at 94.31.
• Interim and decent contention should emerge in the 94.60/70 band, where converge the 10-day SMA and 21-day SMA.

DXY daily chart

Daily high: 95.26

Daily low: 94.96

Support Levels

S1: 94.49

S2: 94.00

S3: 93.72

Resistance Levels

R1: 95.26

R2: 95.54

R3: 96.03