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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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