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

EUR/USD holds above 1.1800 after German sentiment data

EUR/USD stays in positive territory above 1.1800 on Monday after the data from Germany highlighted a modest improvement in business sentiment in February. Meanwhile, the US Dollar stays under pressure amid growing unceratinty surrounding the US trade regime, allowing the pair to hold its ground.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.