US Dollar Index technical analysis: Another leg up to the 2019 high can be on the cards
|- Federal Reserve Chairman’s Jerome Powell will speak at the Atlanta Fed Financial Markets Conference at 23:00 GMT.
- DXY remains poised for another attempt at the 2019 high.
DXY daily chart
The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs).
DXY 4-hour chart
The market is trading above its main SMAs suggesting a bullish bias in the near term. The 98.10 and the 98.34 levels are the main targets to the upside.
DXY 30-minute chart
The greenback is consolidating the recent gains just below the 98.00 mark. A breakout above the 98.00 figure can open the gates to 98.10 and finally 98.34, the current 2019 high. Immediate support is at 98.83 and 98.77 followed by 97.44, May 16 low.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.