US Dollar Index technical analysis: DXY climbs steadily ahead of the FOMC on Wednesday

The US Dollar Index (DXY) almost reached the 97.80 resistance.
The 2019 high at 98.37 remains on the bulls radar.

Flavio Tosti Independent Analyst

The Greenback is starting the week strong. Bullish investors will be scrutinizing the FOMC report on Wednesday. If the Federal Reserves seems not to be in a hurry to cut interest rates it might be perceived as bullish by the market.

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main daily simple moving averages (DSMA). The market found some resistance just below the 97.80 resistance.

DXY 4-hour chart

DXY had another push to the upside as the market is trading above its main SMAs. The level to beat for bulls is at 97.80. If broken the market can potentially leap to 98.37 the 2019 high.

DXY 30-minute chart

The greenback is trading above its main SMAs suggesting bullish momentum in the near term. Immediate support is at 97.55 and 97.30.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.62
Today Daily Change	0.07
Today Daily Change %	0.07
Today daily open	97.55

Trends
Daily SMA20	97.46
Daily SMA50	97.49
Daily SMA100	97.07
Daily SMA200	96.6

Levels
Previous Daily High	97.6
Previous Daily Low	97.33
Previous Weekly High	97.59
Previous Weekly Low	96.58
Previous Monthly High	98.38
Previous Monthly Low	97.03
Daily Fibonacci 38.2%	97.5
Daily Fibonacci 61.8%	97.43
Daily Pivot Point S1	97.39
Daily Pivot Point S2	97.22
Daily Pivot Point S3	97.12
Daily Pivot Point R1	97.66
Daily Pivot Point R2	97.76
Daily Pivot Point R3	97.93

Author

Flavio Tosti

Independent Analyst

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.