News

US Dollar Index technical analysis: DXY ends the week within familiar ranges near the 97.55 level

  • After the recent drop at the start of August, DXY is stabilizing near the 97.55 level.
  • The level to beat for buyers are at the 97.80 level, followed by 98.10 and 98.38 resistances. 
 
 

DXY daily chart

 
DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). DXY is attempting to find some support as the 10-year US bond yields are rebounding after falling sharply.
 

DXY 4-hour chart

 
 
DXY found support near the 96.55 level above the 200 SMA. The bulls need a clear break above the 97.80 resistance to reclaim the 98.10 level and the 50 SMA. Further up, buyers will look at the 98.36 resistance.
 

DXY 30-minute chart

 
The greenback has been consolidating its recent losses for the fourth consecutive day. However, a daily close below 97.15 could be seen as a potential bearish continuation towards the 97.00 figure. 
 
 
 

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.