DXY Technical Analysis: The greenback is flirting with the critical support line. False break?

• After bottoming out in the 94.45/40 band on Tuesday, the index is today staging a rebound to the 94.90 region, closer to the critical barrier at 95.00 the figure.
• The price action continues to hover over the key support/resistance line off June’s low, above which the greenback is expected to keep its constructive bias and therefore keeping alive the likeliness of extra upside.
• If the bullish attempt extends, it will face interim resistance at the 10-day SMA and 21-day SMA, at 95.42 and 95.55, respectively, all ahead of 96.04, where lies the 50% Fibo retracement of the 2017-2018 drop.

DXY daily chart

Daily high: 94.93

Daily low: 94.69

Support Levels

S1: 94.46

S2: 94.20

S3: 93.97

Resistance Levels

R1: 94.95

R2: 95.18

R3: 95.44