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

 

 

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