US Dollar Index Technical Analysis: Greenback bulls erase daily losses as they close above 96.00 figure

• The US Dollar Index (DXY) is trading in a bull trend above the 200-day simple moving average. 
• DXY erases early daily losses stemming from the reaction to the US mid-term elections. Bulls found support at 95.65 (multi-month resistance) and their objective is to drive the market back up to 97.00.
• However, it remains to be seen how high the market can go as the RSI, MACD and Stochastic indicators are turning bearish.   

DXY daily chart

Trend:                     Bullish

Resistance 1:         96.41 August 20 high
Resistance 2:         97.00 former 2018 high
Resistance 3:         97.20 current 2018 high
Resistance 4:         97.87 June 20, 2017
Resistance 5:         98.00 figure

Support 1:               96.00 figure
Support 2:               95.65 multi-month resistance (key level)
Support 3:               95.52 August 6 high
Support 4:               95.24 July 13 high

Additional key levels at a glance: