US Dollar Index Technical Analysis: DXY ends the week at five-day lows, near 98.00 handle

DXY this week started to correct the early November advance.
The next key supports are seen at the 97.80 and 97.50 levels.

Flavio Tosti Independent Analyst

DXY weekly chart

DXY (US Dollar Index) retreated slightly this week as the Index is trading above its main weekly simple moving averages in a bull channel.

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above the 200-day simple moving average (DMA). This Friday the buck dropped to its lowest in five-days near the 100 DMA located at 98.02.

DXY 4-hour chart

DXY is correcting down below its 50 and 200 SMAs, suggesting a bearish bias in the medium term. The market is trying to break below the 98.00 handle. Next week if there is bearish follow-through, the market might continue to decline towards the 97.80 support level. If that support fails to hold prices, then 97.50 can be on the cards.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.98
Today Daily Change	-0.18
Today Daily Change %	-0.18
Today daily open	98.16

Trends
Daily SMA20	97.77
Daily SMA50	98.29
Daily SMA100	98
Daily SMA200	97.56

Levels
Previous Daily High	98.42
Previous Daily Low	98.11
Previous Weekly High	98.4
Previous Weekly Low	97.17
Previous Monthly High	99.67
Previous Monthly Low	97.15
Daily Fibonacci 38.2%	98.23
Daily Fibonacci 61.8%	98.3
Daily Pivot Point S1	98.04
Daily Pivot Point S2	97.92
Daily Pivot Point S3	97.73
Daily Pivot Point R1	98.35
Daily Pivot Point R2	98.54
Daily Pivot Point R3	98.66

Author

Flavio Tosti

Independent Analyst

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