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. 

 

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

 

 

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