US Dollar Index Price Analysis: DXY off December lows and (almost) out of the woods

DXY is showing signs of bullish interest, but bulls need to overcome the 97.25/55 resistances.
The level to beat for bulls is the 97.25 resistance.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is hovering below the 200-day simple moving average (DMA) while holding above the 97.00 handle for the third consecutive day.

DXY four-hour chart

DXY bulls are pressuring the 97.25 resistance as they want to resume the main bull trend. If the market break above the 97.25 level and the 50 SMA, the next resistance is seen at 97.55 and 97.85 level near the 200 SMA. Conversely, a daily close below 96.70 could be seen as a bearish confirmation for further declines towards 96.50 and 96.25.

Additional key level

Dollar Index Spot

Overview
Today last price	97.2
Today Daily Change	0.15
Today Daily Change %	0.15
Today daily open	97.05

Trends
Daily SMA20	97.78
Daily SMA50	97.89
Daily SMA100	98.14
Daily SMA200	97.68

Levels
Previous Daily High	97.14
Previous Daily Low	96.93
Previous Weekly High	97.72
Previous Weekly Low	96.72
Previous Monthly High	98.54
Previous Monthly Low	97.16
Daily Fibonacci 38.2%	97.01
Daily Fibonacci 61.8%	97.06
Daily Pivot Point S1	96.94
Daily Pivot Point S2	96.83
Daily Pivot Point S3	96.73
Daily Pivot Point R1	97.15
Daily Pivot Point R2	97.25
Daily Pivot Point R3	97.36

Author

Flavio Tosti

Independent Analyst

GBP/USD recovers to 1.3450 region, looks to post weekly gains

EUR/USD stays below 1.1450 after US data

Gold rebounds from July lows, struggles to reclaim $4,000

CLARITY Act approval odds sink fast ahead of Congressional hearing

The United States (US) House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence (AI) is holding a hearing titled “Building the Future of Finance: How the CLARITY Act Unlocks Innovation” on Friday.

Week ahead – Could technology earnings revive equities as geopolitical risks linger?

Oil prices rise, but the dollar posts losses as Middle East tensions persist. US earnings, the ECB and UK newsflow dominate next week’s agenda. US equity markets face a pivotal test as focus shifts to technology earnings.

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.