DXY Technical Analysis: short-term support line at 94.12 keeps alive the constructive outlook.

• The index is prolonging the weekly leg lower for the second session in a row today after failing just ahead of 94.90 on Tuesday.
• However, the constructive outlook in the buck stays well and sound while above the immediate support line, today around 94.12.
• DXY needs to regain and close above Tuesday’s peak at 94.90 in order to resume the upside pressure and allow another potential challenge to levels above 95.00 the figure.
• In the meantime, on the daily chart, the buck continues to trade above the cloud and within a broad sideline theme prevailing since June.

DXY daily chart

Daily high: 94.67

Daily low: 94.43

Support Levels

S1: 94.38

S2: 94.16

S3: 93.92

Resistance Levels

R1: 94.84

R2: 95.08

R3: 95.30