US Dollar Index technical analysis: DXY jumps and hits 98.68 on hawkish Fed’s rate cut


  • The Greenback spiked up following the hawkish Fed's rate cut. 
  • The level to beat for bulls is the 98.68 resistance. 
 

DXY daily chart

 
 
DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving averages (DSMAs). The Buck has been trading in a trading range over the last two weeks. The Fed has cut 25 bps as it was widely expected and DXY rose. 
 

DXY four-hour chart

 
DXY is trading above the main SMAs, suggesting bullish momentum in the medium term. Bulls will try to pierce the 98.68 resistance to travel north towards 98.90 and 99.10 resistances. 

DXY 30-minute chart

 
DXY is trading above the main SMAs, suggesting a bullish bias in the near term. Immediate support is at the 98.55 and 98.42 price levels. 

Additional key levels

Dollar Index Spot

Overview
Today last price 98.58
Today Daily Change 0.36
Today Daily Change % 0.37
Today daily open 98.22
 
Trends
Daily SMA20 98.39
Daily SMA50 97.96
Daily SMA100 97.62
Daily SMA200 97.15
 
Levels
Previous Daily High 98.75
Previous Daily Low 98.19
Previous Weekly High 99.11
Previous Weekly Low 97.99
Previous Monthly High 99.02
Previous Monthly Low 97.21
Daily Fibonacci 38.2% 98.4
Daily Fibonacci 61.8% 98.54
Daily Pivot Point S1 98.02
Daily Pivot Point S2 97.83
Daily Pivot Point S3 97.46
Daily Pivot Point R1 98.58
Daily Pivot Point R2 98.95
Daily Pivot Point R3 99.14

 

 

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