US Dollar Index technical analysis: DXY ends the week above 97.20 support

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs).
This Friday DXY declined slightly and found some support at the 50 SMA.

DXY 4-hour chart

DXY trades above 97.20 key support.

DXY 30-minute chart

DXY is trading below its main SMAs suggesting a bearish bias in the short-term.
However, the main trend is up and a bullish break above 97.35 can see a move towards 97.50, 97.70 and 97.90 level.
Support is seen at 97.35 and 97.20 level.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.3
Today Daily Change	-0.16
Today Daily Change %	-0.16
Today daily open	97.46

Trends
Daily SMA20	97.53
Daily SMA50	97.15
Daily SMA100	96.71
Daily SMA200	96.32

Levels
Previous Daily High	97.71
Previous Daily Low	97.24
Previous Weekly High	98.1
Previous Weekly Low	97.15
Previous Monthly High	98.34
Previous Monthly Low	96.74
Daily Fibonacci 38.2%	97.42
Daily Fibonacci 61.8%	97.53
Daily Pivot Point S1	97.23
Daily Pivot Point S2	97
Daily Pivot Point S3	96.76
Daily Pivot Point R1	97.7
Daily Pivot Point R2	97.94
Daily Pivot Point R3	98.17

Author

Flavio Tosti

Independent Analyst

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

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 precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

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.