US Dollar Index Price Analysis: DXY bounces and approaches 100.00 handle

US dollar index (DXY) is up for a second consecutive day.
The level to beat for buyers is the 100.00 handle.

Flavio Tosti Independent Analyst

DXY daily chart chart

Last week, the greenback had its largest weekly decline since April 1986 as DXY challenged the 50-day simple moving average on the daily chart.

DXY four-hour chart

DXY is rebounding above the main SMAs as the bulls want a daily close above the 100.00 psychological level. A break above the above-mentioned level can open the doors to the 100.50 and 101.50 resistances on the way up. Conversely, bears would need to regain the 98.00 figure to extend the bearish move seen last week.

Additional key levels

Dollar Index Spot

Overview
Today last price	99.39
Today Daily Change	0.37
Today Daily Change %	0.37
Today daily open	99.02

Trends
Daily SMA20	98.84
Daily SMA50	98.63
Daily SMA100	98.09
Daily SMA200	98.02

Levels
Previous Daily High	99.32
Previous Daily Low	98.31
Previous Weekly High	102.82
Previous Weekly Low	98.25
Previous Monthly High	99.91
Previous Monthly Low	97.44
Daily Fibonacci 38.2%	98.93
Daily Fibonacci 61.8%	98.7
Daily Pivot Point S1	98.45
Daily Pivot Point S2	97.87
Daily Pivot Point S3	97.44
Daily Pivot Point R1	99.46
Daily Pivot Point R2	99.89
Daily Pivot Point R3	100.47

Author

Flavio Tosti

Independent Analyst

EUR/USD remains offered below 1.1800, looks at US data

EUR/USD is still trading on the defensive in the latter part of Thursday’s session, while the US Dollar maintains its bid bias as investors now gear up for Friday’s key release of the PCE data, advanced Q4 GDP prints and flash PMIs.

GBP/USD bounces off monthly lows near 1.3430

GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3430 area, its lowest levels in the month. The move reflects a firmer Greenback, supported by another round of solid US data and a somewhat divided FOMC Minutes.

Gold surrenders some gains, back below $5,000

Gold is giving away part of its earlier gains on Thursday, receding to the sub-$5,000 region per troy ounce. The precious metal is finding support from renewed geopolitical tensions in the Middle East and declining US Treasury yields across the curve in a context of further advance in the Greenback.

XRP edges lower as SG-FORGE integrates EUR stablecoin on XRP Ledger

Ripple’s (XRP) outlook remains weak, as headwinds spark declines toward the $1.40 psychological support at the time of writing on Thursday.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.