DXY Technical Analysis: The greenback remains under pressure. Strong contention emerges around 93.80

• The index is eroding last Friday’s advance after a promising start above the 94.00 handle.
• However, the better mood in the riskier universe plus a hawkish message from ECB’s Draghi at the Parliament prompted USD-bears to step in.
• DXY needs to ideally regain the 95.00 area to alleviate the downside pressure. In that region converge the 55-day SMA and September 14 high, all ahead of the short-term (now) resistance line at 95.41.

DXY daily chart

Daily high: 94.37

Daily low: 93.84

Support Levels

S1: 93.90

S2: 93.59

S3: 93.38

Resistance Levels

R1: 94.42

R2: 94.63

R3: 94.94