US Dollar Index technical analysis: DXY rises above the 98.00 handle as ECB might exceed market expectations


  • DXY (US Dollar Index) broke above the 98.00 handle as the Euro gets slammed by ECB’s Olli Rehn.
  • The next targets on the way can be located at 98.10 and the 98.38 levels.
 

DXY daily chart

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

DXY 4-hour chart

 
The market is trading above the 98.10 level and its main SMAs. DXY bulls could drive the market towards the 98.38 resistance, which could be the last line of defense before the 98.68 and the 98.93 levels. 
 

DXY 30-minute chart

 
The buying pressure keeps the Greenback near daily highs. Immediate support could be found near the 98.10 and 97.95 levels.
 

Additional key levels

Dollar Index Spot

Overview
Today last price 98.14
Today Daily Change 0.15
Today Daily Change % 0.15
Today daily open 97.99
 
Trends
Daily SMA20 97.73
Daily SMA50 97.23
Daily SMA100 97.37
Daily SMA200 96.97
Levels
Previous Daily High 98.05
Previous Daily Low 97.66
Previous Weekly High 98.11
Previous Weekly Low 97.21
Previous Monthly High 98.68
Previous Monthly Low 96.28
Daily Fibonacci 38.2% 97.9
Daily Fibonacci 61.8% 97.81
Daily Pivot Point S1 97.75
Daily Pivot Point S2 97.51
Daily Pivot Point S3 97.36
Daily Pivot Point R1 98.14
Daily Pivot Point R2 98.29
Daily Pivot Point R3 98.53

 

 

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