US Dollar Index Price Analysis: DXY nearing two-month’s highs, eyeing the 98.20 level


  • The inverse head-and-shoulders pattern is lifting the market.
  • The upside target can be located near the 98.20 level.
 

DXY daily chart

 
The US dollar index (DXY) is challenging the 100-day simple moving average (SMA) while trading within a bullish channel. 
 

DXY four-hour chart

 
DXY is trading above the main simple moving averages (SMAs) and a bullish trendline, suggesting a constructive bias in the medium term. The greenback is breaking out from an inverted head-and-shoulders formation which is lifting the market above the 97.85 resistance and potentially targetting the 98.20 level on the way up. 
 

Additional key levels

Dollar Index Spot

Overview
Today last price 97.9
Today Daily Change 0.22
Today Daily Change % 0.23
Today daily open 97.68
 
Trends
Daily SMA20 97.17
Daily SMA50 97.51
Daily SMA100 97.9
Daily SMA200 97.73
 
Levels
Previous Daily High 97.8
Previous Daily Low 97.41
Previous Weekly High 97.65
Previous Weekly Low 97.09
Previous Monthly High 98.38
Previous Monthly Low 96.35
Daily Fibonacci 38.2% 97.65
Daily Fibonacci 61.8% 97.56
Daily Pivot Point S1 97.46
Daily Pivot Point S2 97.24
Daily Pivot Point S3 97.07
Daily Pivot Point R1 97.85
Daily Pivot Point R2 98.02
Daily Pivot Point R3 98.24

 

 

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