US Dollar Index technical analysis: DXY ending Wednesday at one-month lows near the 98.00 handle

DXY is under bearish pressure as the market is challenging the September lows.
DXY is approaching the 100-day simple moving average today at 97.84.

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above the 100 and 200-day simple moving averages (DSMAs). This Wednesday the Greenback declined to the 98.00 handle, trading just above the 100 SMA. On the macroeconomic front, the Retail Sales Control Group in the United States disappointed coming out at 0% vs 0.3% in September, exacerbating the already negative sentiment on the US Dollar.

DXY four-hour chart

DXY is under bearish pressure below the main SMAs. The market had another leg down to the 98.00 handle and the September lows. If the bears keep the pressure on the market might reach the 97.60 swing low.

DXY 30-minute chart

DXY is trading below the main SMAs, suggesting a bearish bias in the short term. Resistances are seen at the 98.20 and 98.63 levels. Bulls would need to have a daily close above the 98.63 resistance to alleviate the current bearish pressure.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.01
Today Daily Change	-0.29
Today Daily Change %	-0.30
Today daily open	98.3

Trends
Daily SMA20	98.81
Daily SMA50	98.46
Daily SMA100	97.84
Daily SMA200	97.36

Levels
Previous Daily High	98.65
Previous Daily Low	98.2
Previous Weekly High	99.26
Previous Weekly Low	98.19
Previous Monthly High	99.46
Previous Monthly Low	97.99
Daily Fibonacci 38.2%	98.37
Daily Fibonacci 61.8%	98.48
Daily Pivot Point S1	98.12
Daily Pivot Point S2	97.93
Daily Pivot Point S3	97.67
Daily Pivot Point R1	98.57
Daily Pivot Point R2	98.83
Daily Pivot Point R3	99.02

Author

Flavio Tosti

Independent Analyst

EUR/USD softens below 1.1800 on Fed hawkish remarks

The EUR/USD pair edges lower to around 1.1775 during the early Asian session on Wednesday, pressured by a renewed US Dollar demand. Traders await the US President Donald Trump's State of the Union address later on Wednesday for clarity on fiscal policies.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold stays firm above $5,150 as Trump's delivers State of the Union speech

Gold finds fresh demand and regains the $5,150 level following the previous day's pullback from the monthly peak as traders assess Trump's State of the Union address. Trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion.

Hyperliquid registers mild gains following CoinShares' ETP launch

Hyperliquid registered a 3% gain on Tuesday after CoinShares announced the launch of its Physical Hyperliquid Staking exchange-traded product, offering investors exposure to the token's price and staking yields.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.