US Dollar Index Price Analysis: Looks firmer and now targets 98.00 and beyond

DXY has left behind the 200-day SMA and keeps pushing higher.
The outlook on the dollar has now shifted to constructive.

Pablo Piovano FXStreet

DXY is now testing the key 97.90 region, where coincide the 100-day SMA and a Fibo retracement of the 2017-2018 decline.

The index has managed to surpass the 200-day SMA and is now expected to prolong the upside to the 98.00 neighbourhood.

Further north emerges November’s high at 98.54.

DXY daily chart

Dollar Index Spot

Overview
Today last price	97.86
Today Daily Change	21
Today Daily Change %	0.18
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

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.