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

DXY (US Dollar Index) is erasing parts of Friday’s drop.
The market is testing an important resistance level at the 98.10 level.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) trading in a bull trend above the main daily simple moving averages (DSMAs). The market is erasing the sharp decline seen last Friday.

DXY 4-hour chart

DXY is testing a critical key resistance at 98.10 near the 50 SMA. If bulls manage to have a sustained breakout above this level, the market is most likely going to test 98.38 on the way up.

DXY 30-minute chart

The Greenback is trading below a downward sloping 200 SMAs, suggesting bearish momentum in the short term. Bears will need to defend the 98.10 resistance and clear 97.95/85 and 97.70 support if they want to create a meaningful breakdown towards the 97.20 level.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.07
Today Daily Change	0.40
Today Daily Change %	0.41
Today daily open	97.67

Trends
Daily SMA20	97.97
Daily SMA50	97.39
Daily SMA100	97.44
Daily SMA200	97.01

Levels
Previous Daily High	98.45
Previous Daily Low	97.59
Previous Weekly High	98.45
Previous Weekly Low	97.59
Previous Monthly High	98.68
Previous Monthly Low	96.28
Daily Fibonacci 38.2%	97.92
Daily Fibonacci 61.8%	98.12
Daily Pivot Point S1	97.36
Daily Pivot Point S2	97.04
Daily Pivot Point S3	96.5
Daily Pivot Point R1	98.22
Daily Pivot Point R2	98.76
Daily Pivot Point R3	99.08

Author

Flavio Tosti

Independent Analyst

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