US Dollar Index technical analysis: DXY reaches a new 2019 high at 98.68 as the Federal Reserve cuts rates

DXY break to a new 2019 high as the Federal Reserve cuts interest rates.
The level to beat for buyers are seen at 98.68, 99.00 and the 99.40 level.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). DXY rose as the Federal Reserve cut interest rates as expected by 25 bps.

DXY 4-hour chart

DXY is trading above its main SMAs, suggesting bullish momentum in the medium term. The level to beat for bulls is 98.68, the new 2019 high established this Wednesday. A break above the level can open the doors to 99.00 and 99.40 to the upside.

DXY 30-minute chart

DXY is trading above its main SMAs, suggesting bullish momentum in the near term. Immediate support can be seen at 98.38 and 98.10

Additional key levels

Dollar Index Spot

Overview
Today last price	98.51
Today Daily Change	0.44
Today Daily Change %	0.45
Today daily open	98.07

Trends
Daily SMA20	97.33
Daily SMA50	97.2
Daily SMA100	97.23
Daily SMA200	96.9

Levels
Previous Daily High	98.21
Previous Daily Low	98.01
Previous Weekly High	98.09
Previous Weekly Low	97.13
Previous Monthly High	97.81
Previous Monthly Low	95.84
Daily Fibonacci 38.2%	98.13
Daily Fibonacci 61.8%	98.09
Daily Pivot Point S1	97.98
Daily Pivot Point S2	97.9
Daily Pivot Point S3	97.78
Daily Pivot Point R1	98.18
Daily Pivot Point R2	98.3
Daily Pivot Point R3	98.38

Author

Flavio Tosti

Independent Analyst

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