US Dollar Index Technical Analysis: DXY bearish below 96.87 resistance

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its 200-day simple moving average.

DXY 4-hour chart

DXY is trading between the 50 and 100 SMAs suggesting a consolidation in the medium-term.
DXY is seen bearish below 96.87 resistance. Key supports to the downside are at 96.10 and 95.82 level.
Resistances are at 96.87 and 97.40 level.

Additional key levels

Dollar Index Spot

Overview:
    Today Last Price: 96.76
    Today Daily change: 29 pips
    Today Daily change %: 0.30%
    Today Daily Open: 96.47
Trends:
    Daily SMA20: 96.71
    Daily SMA50: 96.33
    Daily SMA100: 96.57
    Daily SMA200: 95.77
Levels:
    Previous Daily High: 97.02
    Previous Daily Low: 96.38
    Previous Weekly High: 97.71
    Previous Weekly Low: 96.4
    Previous Monthly High: 97.37
    Previous Monthly Low: 95.4
    Daily Fibonacci 38.2%: 96.62
    Daily Fibonacci 61.8%: 96.78
    Daily Pivot Point S1: 96.23
    Daily Pivot Point S2: 95.98
    Daily Pivot Point S3: 95.59
    Daily Pivot Point R1: 96.87
    Daily Pivot Point R2: 97.26
    Daily Pivot Point R3: 97.51

Author

Flavio Tosti

Independent Analyst

EUR/USD off highs, back to 1.1850

EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the US Dollar as investors continue to assess the latest US CPI readings.

GBP/USD advances to daily tops around 1.3650

GBP/USD now manages to pick up extra pace, clinching daily highs around 1.3650 and leaving behind three consecutive daily pullbacks on Friday. Cable’s improved sentiment comes on the back of the inconclusive price action of the Greenback, while recent hawkish comments from the BoE’s Pill also collaborates with the uptick.

Gold surpasses $5,000/oz, daily highs

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The yellow metal’s upside is also propped up by the lack of clear direction around the US Dollar post-US CPI release.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.