US Dollar Index technical analysis: DXY in wait-and-see mode, ending the day virtually unchanged near the 97.55 level

DXY has been directionless this Wednesday as the market is weighing the impact of the trade war on US interest rates.
Wall Street indices are about to end the day near daily highs giving some support to the buck.
The level to beat for bulls are seen at 97.80, followed by 98.10 and 98.38 resistances.

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). The greenback remains fragile as the threat of the US-China trade war keeps looming. US stock indices are currently trading near their daily highs somewhat supporting DXY for the time being.

DXY 4-hour chart

DXY found support at the 96.30 support above the 200 SMA, creating a small double bottom. The bulls need a clear breakout above to 97.80 resistance to recapture the 98.10 level near the 50 SMA followed by 98.36 resistance.

DXY 30-minute chart

The greenback has been consolidating its recent losses for the second consecutive day. A daily close below 97.15 would be seen as a potential bearish continuation towards the 97.00 figure.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.55
Today Daily Change	-0.05
Today Daily Change %	-0.05
Today daily open	97.6

Trends
Daily SMA20	97.56
Daily SMA50	97.21
Daily SMA100	97.31
Daily SMA200	96.94

Levels
Previous Daily High	97.78
Previous Daily Low	97.21
Previous Weekly High	98.94
Previous Weekly Low	97.9
Previous Monthly High	98.68
Previous Monthly Low	96.28
Daily Fibonacci 38.2%	97.56
Daily Fibonacci 61.8%	97.43
Daily Pivot Point S1	97.28
Daily Pivot Point S2	96.96
Daily Pivot Point S3	96.71
Daily Pivot Point R1	97.85
Daily Pivot Point R2	98.1
Daily Pivot Point R3	98.42

Author

Flavio Tosti

Independent Analyst

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