DXY bounces off one week low after US presidential debate

 

  • DXY refreshes intraday high to 93.95 following its drop to fresh low since September 22.
  • Break of immediate resistance line, amid bullish MACD, favors short-term bulls.
  • Three-day-old falling trend line, 200-bar SMA adds to the upside barriers.
  • The early-month top, monthly support line lure sellers below 94.00.

US dollar index (DXY) takes bids near 93.93, intraday high of 93.95 in early Wednesday. In doing so, the green ticket gauge reverse recent losses mainly supported by the US presidential debate between the two candidates, namely Donald Trump and Joe Biden.

The recent rise also clears the immediate resistance line, now support, while taking cues from bullish MACD. Consequently, buyers should keep USD hope for recovery moves to another line of downtrend September 25, at 94.05 now.

However, be challenged further increases the citation by a level 200 SMA 94.30 bar and the September 28 peak around 94.45.

Otherwise, a new weakness in the US dollar index will fall below the previous resistance line, now at 93.89, to refresh the low weekly 93.79.

Subsequently, 09 September the high of 93.66 and a line of ascending trend since the beginning of the month, currently around 93.25, gain market attention.

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