US Dollar Index technical analysis: DXY is advancing to weekly highs near 98.6

The Greenback is gaining steam this Friday as the market is rising to weekly tops.
The level to beat for buyers is the 98.55/98.68 resistance zone.

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, in the last two weeks, has been trading in a trading range around the 98.40 level.

DXY four-hour chart

DXY is trading above the primary SMAs, suggesting bullish momentum. The market is gaining strength as it broke above the triangle pattern. However, buyers will need to defend the 98.42 and 98.20 support if they don’t want the market to stay stuck in the range. The Greenback would need a daily close above 98.68 to pull away from the current range.

DXY 30-minute chart

DXY is trading above the main SMAs, suggesting bullish momentum in the near term. Support is seen at the 98.55 and 98.42 price levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.62
Today Daily Change	0.25
Today Daily Change %	0.25
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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