US Dollar Index technical analysis: Another leg up to the 2019 high can be on the cards

Federal Reserve Chairman’s Jerome Powell will speak at the Atlanta Fed Financial Markets Conference at 23:00 GMT.
DXY remains poised for another attempt at the 2019 high.

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs).

DXY 4-hour chart

The market is trading above its main SMAs suggesting a bullish bias in the near term. The 98.10 and the 98.34 levels are the main targets to the upside.

DXY 30-minute chart

The greenback is consolidating the recent gains just below the 98.00 mark. A breakout above the 98.00 figure can open the gates to 98.10 and finally 98.34, the current 2019 high. Immediate support is at 98.83 and 98.77 followed by 97.44, May 16 low.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.94
Today Daily Change	-0.08
Today Daily Change %	-0.08
Today daily open	98.02

Trends
Daily SMA20	97.67
Daily SMA50	97.23
Daily SMA100	96.77
Daily SMA200	96.39

Levels
Previous Daily High	98.03
Previous Daily Low	97.77
Previous Weekly High	98.03
Previous Weekly Low	97.03
Previous Monthly High	98.34
Previous Monthly Low	96.74
Daily Fibonacci 38.2%	97.93
Daily Fibonacci 61.8%	97.87
Daily Pivot Point S1	97.85
Daily Pivot Point S2	97.68
Daily Pivot Point S3	97.59
Daily Pivot Point R1	98.11
Daily Pivot Point R2	98.2
Daily Pivot Point R3	98.37

Author

Flavio Tosti

Independent Analyst

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