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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. 
 

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 price98.07
Today Daily Change0.40
Today Daily Change %0.41
Today daily open97.67
 
Trends
Daily SMA2097.97
Daily SMA5097.39
Daily SMA10097.44
Daily SMA20097.01
Levels
Previous Daily High98.45
Previous Daily Low97.59
Previous Weekly High98.45
Previous Weekly Low97.59
Previous Monthly High98.68
Previous Monthly Low96.28
Daily Fibonacci 38.2%97.92
Daily Fibonacci 61.8%98.12
Daily Pivot Point S197.36
Daily Pivot Point S297.04
Daily Pivot Point S396.5
Daily Pivot Point R198.22
Daily Pivot Point R298.76
Daily Pivot Point R399.08

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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