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: Bullish case underpinned by weekend news

The EUR/USD pair has rallied Friday to close with gains for a third consecutive week at 1.1169. There was no particular catalyst for EUR gains. ECB scheduled to meet this week, although no fireworks expected this time.

EUR/USD News

GBP/USD: Uncertainty or relief? Action granted anyway

Hopes that the UK will avoid a hard-Brexit kept the Pound rallying against all of its major rivals by the end of last week, with GBP/USD finishing it a handful of pips below the critical 1.3000 level.

GBP/USD News

USD/JPY: Corrective slide to continue on sentiment

The USD/JPY pair closed the week at around 108.40, down Friday for a third consecutive day as the American currency remained under selling pressure. USD/JPY at risk of falling further only if it breaks below 108.00.

USD/JPY News

Gold turns flat above $1,490 as USD remains under pressure

After dropping to a daily low of $1,485, the XAU/USD pair staged a modest rebound during the American trading hours and turned flat on the day near $1,492.

Gold News

China’s downward economic path offers no escape from its trade problems

There were no surprises in China’s GDP figures as the government portrays an economy slipping steadily lower giving little promise of improvement or support for the waning global expansion.

Read more

Forex MAJORS

Cryptocurrencies

Signatures