US Dollar Index technical analysis: DXY is on life support holding at one-week low near 98.63


  • DXY has been hammered down to one-week low. 
  • The market is holding at a key support level at the 98.63 price level. 
 

DXY daily chart

 
The US Dollar Index (DXY) is in a bull trend above the main daily simple moving averages (DSMAs). DXY fell as the European Central Bank Minutes showed opposition to QE (Quantitative Easing). In the New York session, the US Core Consumer Price Index (CPI) matched analysts’ expectations at 2.4% YoY. 
 

DXY four-hour chart

 
DXY is holding on at 98.63 key support near the 200 SMA on the four-hour chart. If the market can hold above this level DXY is set to continue its uptrend potentially revisiting the 99.00/99.10 zone. On the flips side, if the market loses the 96.63 level, then 98.30 can be on the cards for bears.
 
 

DXY 30-minute chart

 
 
DXY is trading below its main SMAs, suggesting a bearish momentum in the near term. Resistances are seen at the 98.85 and 99.00 price levels. 
 

Additional key levels 

Dollar Index Spot

Overview
Today last price 98.72
Today Daily Change -0.41
Today Daily Change % -0.41
Today daily open 99.13
 
Trends
Daily SMA20 98.79
Daily SMA50 98.41
Daily SMA100 97.81
Daily SMA200 97.31
 
Levels
Previous Daily High 99.16
Previous Daily Low 98.89
Previous Weekly High 99.67
Previous Weekly Low 98.63
Previous Monthly High 99.46
Previous Monthly Low 97.99
Daily Fibonacci 38.2% 99.06
Daily Fibonacci 61.8% 98.99
Daily Pivot Point S1 98.96
Daily Pivot Point S2 98.79
Daily Pivot Point S3 98.69
Daily Pivot Point R1 99.23
Daily Pivot Point R2 99.33
Daily Pivot Point R3 99.5

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD retreats after strong NFP, weak German data

EUR/USD is trading below   1.11 after US Non-Farm Payrolls beat expectations with 266K and mixed wage growth. Earlier, weak German data weighed on the euro. Updates on trade are awaited.

EUR/USD News

GBP/USD shrugs off strong NFP, focuses on UK elections

GBP/USD is trading below 1.3150 but off the post-NFP lows. The US gained more jobs than expected. The Conservatives remain in the lead ahead of the debate between PM Johnson and Labour leader Corbyn.

GBP/USD News

US recession? Not so fast, a calm look at the economy and currencies ahead of the NFP

Recent US economic indicators have been downbeat, but they include silver linings and are backed by robust consumption. Valeria Bednarik, Joseph Trevisani, and Yohay Elam...

Read more

Gold drops to fresh multi-day lows on upbeat NFP report

Gold faded an intraday bullish spike to the $1480 area and tumbled to fresh multi-day lows, around the $1465 region in reaction to upbeat US monthly jobs report.

Gold News

USD/JPY: bearish ahead of US employment figures

Japanese data missed the market’s expectations, triggering fresh concerns about the economy. Focus on US employment figures, market players anticipate dismal numbers. USD/JPY is technically bearish could break below the 108.00 level.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures