US Dollar Index Technical Analysis: A new visit to YTD highs around 98.30 is closer

The index manages to leave behind yesterday’s pullback and has now reclaimed the key 98.00 handle and above, resuming the underlying bullish move.
Next on the upside appear 2019 peaks beyond 98.30. A breakout of this area on a convincing fashion should open the door for a test of the Fibo retracement at levels just below 99.00 the figure.
The broader constructive ooutlook is expected to prevail above key 200-day SMA at 96.37 and the +3-month support line at 96.46. This area of support is reinforced by a Fibo retracement of the 2017-2018 drop at 96.36.

Pablo Piovano FXStreet

DXY daily chart

Dollar Index Spot

Overview
Today last price	98.08
Today Daily Change	20
Today Daily Change %	0.13
Today daily open	97.95

Trends
Daily SMA20	97.7
Daily SMA50	97.24
Daily SMA100	96.78
Daily SMA200	96.4

Levels
Previous Daily High	98.04
Previous Daily Low	97.88
Previous Weekly High	98.03
Previous Weekly Low	97.03
Previous Monthly High	98.34
Previous Monthly Low	96.74
Daily Fibonacci 38.2%	97.94
Daily Fibonacci 61.8%	97.98
Daily Pivot Point S1	97.87
Daily Pivot Point S2	97.8
Daily Pivot Point S3	97.71
Daily Pivot Point R1	98.03
Daily Pivot Point R2	98.12
Daily Pivot Point R3	98.19

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 slumps below 1.1800 on hawkish Fed Minutes, eyes on ECB succession

The EUR/USD pair tumbles to a near two-week low around 1.1785 during the early Asian session on Thursday. The US Dollar strengthens against the Euro on hawkish FOMC minutes that revived speculation about potential interest rate hikes if inflation remains elevated.

GBP/USD struggles near four-week low vs. USD, below 1.3500 amid BoE rate cut bets

The GBP/USD pair is seen consolidating its weekly losses registered over the past three days and oscillating in a narrow range near a four-week trough, touched during the Asians session on Thursday. Spot prices currently trade just below the 1.3500 psychological mark and seem vulnerable to slide further.

Gold yearns for acceptance above the $5,000 mark

Gold preserves 2% advance seen on Wednesday as buyers gather pace early Thursday. The US Dollar holds January Fed Minutes-led gains ahead of more US macro data. Gold needs a sustained break above the key $5,000 barrier; daily RSI stays bullish.

Top Crypto Gainers: World Liberty Financial, Sky, and Cosmos confront major resistance

World Liberty Financial, Sky, and Cosmos rank among the top gainers over the last 24 hours but face critical overhead resistance levels. WLFI gained momentum at the World Liberty Forum, an invite-only conference held at Mar-a-Lago by US President Donald Trump’s family, while SKY and ATOM reversed off a crucial support level.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.