US Dollar Index technical analysis: DXY ends Tuesday just below 98.42 resistance level

DXY (US Dollar Index) ends Tuesday virtually unchanged.
The level to beat for buyers is at the 98.55 resistance level.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving averages (DSMAs). The Greenback is ending Tuesday within familiar ranges in the 98.10/98.55 zone.

DXY four-hour chart

The US dollar Index is ending the day above 96.26 support and the 100/200 SMAs. The bull trend remains intact with DXY buyers looking for a break beyond 98.55 resistance. Further up, the 98.68 and 98.94 resistance levels can be next in line.

DXY 30-minute chart

DXY remains confined in a small range as the market is trading above flattening 50 and 100 SMAs. The 200 SMA is capping the upside. Immediate support is seen at the 98.26 and 98.10 price levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.37
Today Daily Change	0.05
Today Daily Change %	0.05
Today daily open	98.32

Trends
Daily SMA20	98.3
Daily SMA50	97.8
Daily SMA100	97.58
Daily SMA200	97.11

Levels
Previous Daily High	98.51
Previous Daily Low	98.14
Previous Weekly High	99.38
Previous Weekly Low	98.08
Previous Monthly High	99.02
Previous Monthly Low	97.21
Daily Fibonacci 38.2%	98.28
Daily Fibonacci 61.8%	98.37
Daily Pivot Point S1	98.14
Daily Pivot Point S2	97.95
Daily Pivot Point S3	97.77
Daily Pivot Point R1	98.51
Daily Pivot Point R2	98.69
Daily Pivot Point R3	98.88

Author

Flavio Tosti

Independent Analyst

EUR/USD looks sidelined around 1.1850

EUR/USD remains on the back foot, extending its bearish tone and sliding towards the 1.1850 area to print fresh daily lows on Monday. The move lower comes as the US Dollar gathers modest traction, with thin liquidity and subdued volatility amplifying price swings amid the US market holiday.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold loses momentum, eases below $5,000

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.