News

US Dollar Index technical analysis: DXY is challenging the critical 98.10 resistance

  • DXY (US Dollar Index) is erasing parts of Friday’s drop.
  • The market is testing an important resistance level at the 98.10 level. 
 

DXY daily chart

 
DXY (US Dollar Index) trading in a bull trend above the main daily simple moving averages (DSMAs). The market is erasing the sharp decline seen last Friday.
 
 

DXY 4-hour chart

 
DXY is testing a critical key resistance at 98.10 near the 50 SMA. If bulls manage to have a sustained breakout above this level, the market is most likely going to test 98.38 on the way up.
 
 
 
 
 
 

DXY 30-minute chart

 
The Greenback is trading below a downward sloping 200 SMAs, suggesting bearish momentum in the short term. Bears will need to defend the 98.10 resistance and clear 97.95/85 and 97.70 support if they want to create a meaningful breakdown towards the 97.20 level.
 
 

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.