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

AUD/USD hangs near three-week low, below 0.6950 as traders await US NFP report

AUD/USD hits a three-week low during the Asian session on Friday as the RBA’s dovish shift and a rout in equity markets weigh on the risk-sensitive Aussie. However, the recent slump in US bond yields to a two-month low keeps US Dollar bulls on the back foot and limits losses for the currency pair as traders look to the US NFP report for a fresh impetus.

USD/JPY bounces off three-week low; keeps the red near 157.65 as focus remains on US NFP

USD/JPY bounces off the weekly low set during the Asian session, as bears turn cautious ahead of the US NFP report due later this Friday. The upside seems limited as the recent slump in US bond yields and hopes of Iran war de-escalation undermine the US Dollar. Moreover, a hawkish BoJ and intervention risks support the Japanese Yen, capping the pair.

Gold loses the grip; $4,000 comes next on the downside

Gold sets aside two daily advances in a row on Friday, opening the door to a potential test of the key $4,000 mark per troy ounce. The precious metal’s retracement follows a decent improvement in the sentiment surrounding the US Dollar, solid NFP data and higher US Treasury yields across the board.

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave. This political shift in the US has triggered sharp price swings across the cryptocurrency market.

Week ahead – Inflation and geopolitics in focus as US political landscape shifts

Post-midterm election euphoria fizzles out as risk aversion prevails. US CPI, PPI and Fedspeak on the radar as Fed hike bets remain supported. Oil retreat pauses on mixed hopes about the ongoing conflicts.

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.