US Dollar Index technical analysis: Can the Greenback come back?


  • DXY (US Dollar Index) is holding above the key 98.00 handle. 
  • The United States Retail Sales Group data halts the intraday DXY bleeding.
 
 

DXY daily chart

 
 
DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). The Greenback remains under pressure this Friday although the US Retail Sales Group in August came in line with expectation and put an end to DXY intraday decline.
 
 

DXY four-hour chart

 
DXY is holding on above its 200 SMA and a key support at 98.00, suggesting that the bull trend is still into play. However, bulls have a lot of work to do as they have to regain several levels of resistances at 98.42, 98.55 and 98.68. 
 
On the other hand, if DXY loses the 98.00 handle on a daily closing basis, the market might selloff towards 97.60 and 97.20 swing lows. Next week will likely be crucial. 
 
 
 
 
 

Additional key levels

Dollar Index Spot

Overview
Today last price 98.21
Today Daily Change -0.16
Today Daily Change % -0.16
Today daily open 98.37
 
Trends
Daily SMA20 98.37
Daily SMA50 97.9
Daily SMA100 97.6
Daily SMA200 97.13
Levels
Previous Daily High 99.11
Previous Daily Low 98.19
Previous Weekly High 99.38
Previous Weekly Low 98.08
Previous Monthly High 99.02
Previous Monthly Low 97.21
Daily Fibonacci 38.2% 98.54
Daily Fibonacci 61.8% 98.76
Daily Pivot Point S1 98
Daily Pivot Point S2 97.64
Daily Pivot Point S3 97.08
Daily Pivot Point R1 98.92
Daily Pivot Point R2 99.48
Daily Pivot Point R3 99.84

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD tension remains elevated ahead of the Fed

EUR/USD is trading around 1.1050, confined to a narrow range ahead of the all-important Fed decision. Chair Powell is set to cut rates by 25bps but signal no further stimulus is on the cards.

EUR/USD News

GBP/USD extends its falls to 1.2450 amid weak UK inflation, Brexit impasse

GBP/USD has dropped to around 1.2450 as UK headline CPI missed with 1.7% in August. Brexit negotiations remain stuck according to Chief EU negotiator Barnier. The Fed decision is eyed.

GBP/USD News

USD/JPY holds on to recovery gains above 108.00 ahead of Fed

Not only upbeat trade numbers from Japan but upbeat trade/political headlines also help the USD/JPY pair to remain firm around 108.20 prior to Wednesday’s European session. Focus on FOMC decision.

USD/JPY News

Gold: Pivots around $1500 mark, awaits FOMC policy update

Gold extended its sideways consolidative price action through the early European session on Wednesday and was seen pivoting around the key $1500 psychological mark, awaiting FOMC policy decision.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Cryptos seeing multiple launches into the universe

The Altcoin market has quickly confirmed Tuesday’s analysis with flashing rises in the last 24 hours. The two eternal aspirants to lead the crypto market – Ethereum and XRP – are rising sharply against Bitcoin and increasing its value rapidly.

Read more

Forex MAJORS

Cryptocurrencies

Signatures