US Dollar Index technical analysis: Greenback continues its ascent towards the 2019 high
|DXY daily chart
The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs).
The market is trading above its main SMAs suggesting a bullish momentum in the near term. The market reached 98.10 target and the next potential level to look at is likely 98.34, the 2019 high.
The greenback is trading above its main SMAs suggesting bullish momentum in the near term. A breakout above 98.10 can open the gates to 98.34, the current 2019 high. Immediate support is at 97.83 and 97.77 followed by 97.44, May 16 low.
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