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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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