US Dollar Index technical analysis: DXY ends the week on a positive note

The Greenback rose this Friday but remains trapped within its weekly range.
The level to beat for bulls is the 98.55/98.68 resistance zone.
DXY ends the week about 45 cents higher.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). In the last two weeks, the Greenback has been in a trading range around the 98.40 level as investors are waiting for a catalyst.

DXY four-hour chart

DXY is trading above the 50/200 SMAs, suggesting bullish momentum. The Greenback gained some relative strength this Friday as it broke above the triangle pattern. The market is retracing down and buyers will need to defend the 98.42 and 98.20 support if they intend to lift the market towards 99.10 and 99.38 resistances. The market would need a daily close beyond 98.68 to pull away from the trading range.

DXY 30-minute chart

DXY is trading above the main SMAs, suggesting bullish momentum in the near term. Support is seen at the 98.42 and 98.20 price levels. A break below 98.20 would be seen as bearish.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.49
Today Daily Change	0.12
Today Daily Change %	0.12
Today daily open	98.37

Trends
Daily SMA20	98.41
Daily SMA50	98.01
Daily SMA100	97.63
Daily SMA200	97.16

Levels
Previous Daily High	98.62
Previous Daily Low	98.2
Previous Weekly High	99.11
Previous Weekly Low	97.99
Previous Monthly High	99.02
Previous Monthly Low	97.21
Daily Fibonacci 38.2%	98.36
Daily Fibonacci 61.8%	98.46
Daily Pivot Point S1	98.17
Daily Pivot Point S2	97.98
Daily Pivot Point S3	97.75
Daily Pivot Point R1	98.59
Daily Pivot Point R2	98.82
Daily Pivot Point R3	99.01

Author

Flavio Tosti

Independent Analyst

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