News

US Dollar Index technical analysis: DXY ends the week under pressure below the 99.00 handle

  • DXY is trading in a range this Friday and is ending the week 0.60% down. 
  • The US Non-Farm Payrolls came below expectations at 136K vs. 145K in September, while wages came out at 2.9% vs. 3.2% forecast. 

 

DXY daily chart

 
The US Dollar Index (DXY) is trading in a bull trend above the main daily simple moving averages (DSMAs). This Friday, the US Non-Farm Payrolls came below forecast at 136K vs. 145K in September, while wages disappointed as well at 2.9% vs. 3.2% expected.

DXY four-hour chart

 
DXY is ranging in the 98.63-99.00 band between the 50 and 100 SMAs. The Index remains in a bull trend above the 200 SMA and a break of the 99.00/99.10 resistance zone could lead to 99.30 in the medium term.

DXY 30-minute chart

 
 
DXY is trading below its main SMAs, suggesting a bearish bias in the short term. A break below 98.63 support can lead to 98.30 on the way down. The market would need to clear the 99.00-99.10 resistance zone in order to alleviate the bearish pressure. 
 

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.