News

US Dollar Index technical analysis: DXY trading at weekly highs above the 98.22 level

  • DXY (US Dollar Index) is gaining steam as the market is about to close the day above the 98.22 resistance.
  • The next key resistance can be located near the 98.38 level, crucial previous level.
 

DXY daily chart

 
DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). 
 

DXY 4-hour chart

 
This Wednesday DXY broke above the critical resistance at 98.10 opening the doors for a potential continuation up towards 98.36 (previous key level) on the way up. If the market hold above the 98.22 resistance level, it would be seen as a bullish sign. 
 
 

DXY 30-minute chart

 
The Greenback is trading above the main SMAs, suggesting bullish momentum in the short term. Immediate support is seen at the 98.22 and 98.10 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.