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US Dollar Index technical analysis: DXY taking a breather on Monday, holding above the 98.00 handle

  • DXY is consolidating last week’s advance below the 50 DMA.
  • The level to beat for bulls is the 98.40 resistance level. 

 

DXY daily chart

 
DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving average (DMAs). This Monday the Greenback is retracing down from the 98.40 level and the 50 DMA.
 

DXY 4-hour chart

 
DXY is consolidating the recent gains, trading above the 50 and 100 SMAs while coiling near the 200 SMA. The buyers will likely be looking for a break above the 98.40 resistance level to reach the 98.65 and the 99.26 resistances on the way up. 
  

DXY 30-minute chart

 
DXY is trading below the 50 and 100 SMAs, suggesting a consolidation down in the short term. Support is seen at the 98.10, 97.80 and 97.50 price levels. 
 

Additional key levels

 

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