News

US Dollar Index Technical Analysis: DXY at five-day lows, challenges the 98.00 handle.

  • DXY is ending the week with a slump to the 98.00 handle.
  • The next relevant support is seen at the 97.80 level. 
 

DXY daily chart

 
DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving averages (DMAs). This Friday the Greenback declined to its lowest in five-days.
 

DXY 4-hour chart

 
DXY is trading below the 50 and 200 SMAs, suggesting a bearish bias in the medium term. A break below the 98.00 handle can lead to further weakness to the 97.80 support level. 
 

DXY 30-minute chart

 
DXY is down for the second consecutive day while trading below its main SMAs. The bias is currently bearish in the short term and resistances are seen at the 98.00, 98.10 and 98.20 levels. 
 
 

Additional key levels

 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.