US Dollar Index technical analysis: DXY off daily highs, trading above the 98.10 level

DXY (US Dollar Index) retraces down slightly as the week is coming to an end.
The next targets to the upside can be located at 98.10 and the 98.38 levels.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is evolving in a bull trend above its main daily simple moving averages (DSMAs). DXY got a boost on Thursday as the European Central Bank’s (ECB) member Olli Rehn said that ECB stimulus package in September might overshoot expectations. Also, the Retail Sales Control Group in July surpassed expectations adding to the positive sentiment on the Greenback.

DXY 4-hour chart

The market almost reached 98.38 resistance while above its main SMAs. DXY bulls need to clear this level to climb towards 98.68 and the 98.93 levels.

DXY 30-minute chart

The Greenback is trading above the 98.10 support and the 50 SMA. Immediate support could be found near the 98.10, 97.95 and 97.85 levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.2
Today Daily Change	0.05
Today Daily Change %	0.05
Today daily open	98.15

Trends
Daily SMA20	97.81
Daily SMA50	97.25
Daily SMA100	97.38
Daily SMA200	96.98

Levels
Previous Daily High	98.24
Previous Daily Low	97.82
Previous Weekly High	98.11
Previous Weekly Low	97.21
Previous Monthly High	98.68
Previous Monthly Low	96.28
Daily Fibonacci 38.2%	98.08
Daily Fibonacci 61.8%	97.98
Daily Pivot Point S1	97.9
Daily Pivot Point S2	97.65
Daily Pivot Point S3	97.48
Daily Pivot Point R1	98.32
Daily Pivot Point R2	98.49
Daily Pivot Point R3	98.74

Author

Flavio Tosti

Independent Analyst

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