DXY Technical Analysis: Found contention in the short-term support line around 94.20

• The greenback recovered the smile on Tuesday and is now looking to add to recent gains after meeting decent contention in the short-term support line around 94.20.
• In order to consolidate the march north, the index needs to overcome in a sustainable note last week’s peak at 94.90. If cleared, the immediate target should then be the 95.00 milestone and above.
• In the meantime, the constructive bias around the buck remains well and sound while above the key short-term support line.

DXY daily chart

Daily high: 94.70

Daily low: 94.53

Support Levels

S1: 94.28

S2: 94.01

S3: 93.87

Resistance Levels

R1: 94.69

R2: 94.83

R3: 95.10