US Dollar Index Technical Analysis: DXY ready for the next leg up?

DXY has been consolidating on the second day of the week.
Support is seen at the 97.70 level.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in an uptrend above its 200-day simple moving average (DMA). This Tuesday, the market traded quietly within last Friday’s range.

DXY 4-hour chart

DXY bounced from the 97.70 level near the 61.8% Fibonacci retracement from the November bull run. In the absence of a bear breakout below the 97.70 level, DXY is set to resume the uptrend targetting initially the 98.00 level, followed by 98.20 and 98.40, near November highs.

DXY 30-minute chart

The greenback is trading above the 50 SMA, suggesting a potential correction up in the medium term. However, if 97.70 fails to hold prices, the market might drop towards the 97.50 level.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.84
Today Daily Change	0.02
Today Daily Change %	0.02
Today daily open	97.82

Trends
Daily SMA20	97.84
Daily SMA50	98.27
Daily SMA100	98.03
Daily SMA200	97.57

Levels
Previous Daily High	97.96
Previous Daily Low	97.68
Previous Weekly High	98.45
Previous Weekly Low	97.96
Previous Monthly High	99.67
Previous Monthly Low	97.15
Daily Fibonacci 38.2%	97.79
Daily Fibonacci 61.8%	97.85
Daily Pivot Point S1	97.68
Daily Pivot Point S2	97.54
Daily Pivot Point S3	97.4
Daily Pivot Point R1	97.96
Daily Pivot Point R2	98.1
Daily Pivot Point R3	98.24

Author

Flavio Tosti

Independent Analyst

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