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US Dollar Index technical analysis: DXY is approaching the critical 98.10 resistance

DXY (US Dollar Index) is challenging the Tuesday’s highs.
The market is nearing an important resistance level at the 98.10 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 market is in a small range this Tuesday.

DXY 4-hour chart

DXY is approaching a critical resistance at the 98.10 level near the 50 SMA. If the buyers manage to have a sustained breakout above this level, the market could test 98.38 on the way up.

DXY 30-minute chart

The Greenback is trading below a descending 200 SMAs, suggesting a bearish bias in the short term. However, sellers would need to defend the 98.10 resistance and clear 97.95/85 and 97.70 support if they want to generate a meaningful breakdown towards the 97.20 level.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.03
Today Daily Change	-0.02
Today Daily Change %	-0.02
Today daily open	98.05

Trends
Daily SMA20	97.97
Daily SMA50	97.4
Daily SMA100	97.45
Daily SMA200	97.02

Levels
Previous Daily High	98.09
Previous Daily Low	97.62
Previous Weekly High	98.45
Previous Weekly Low	97.59
Previous Monthly High	98.68
Previous Monthly Low	96.28
Daily Fibonacci 38.2%	97.91
Daily Fibonacci 61.8%	97.8
Daily Pivot Point S1	97.75
Daily Pivot Point S2	97.45
Daily Pivot Point S3	97.28
Daily Pivot Point R1	98.22
Daily Pivot Point R2	98.39
Daily Pivot Point R3	98.69

Author

Flavio Tosti

Independent Analyst

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