US Dollar Index technical analysis: DXY rising to its highest in six days as US-China trade tensions ease

DXY (US Dollar Index) is about to close at 5-day highs above the 97.55 mark.
A daily close above 97.80 would be seen as bullish with the next target at 98.10.

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). Earlier on Tuesday, the US Core Consumer Price Index (YoY) came in better-than-expected at 2.2% vs. 2.1% forecast by analysts, but the market had only a limited reaction to the data. However, DXY rose sharply after the US announced it would delay some of the planned tariffs to December 15.

DXY 4-hour chart

The market is challenging the 100 SMA while above the 50/200 SMA. A daily close above 97.80 would be seen as bullish for DXY. Bulls can drive the market towards 98.10, 98.38, 98.68 and all the way to 98.93.

DXY 30-minute chart

The bullish pressure is keeping the greenback to daily highs. Immediate support could be found near 97.70 and 97.55.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.81
Today Daily Change	0.39
Today Daily Change %	0.40
Today daily open	97.42

Trends
Daily SMA20	97.67
Daily SMA50	97.2
Daily SMA100	97.35
Daily SMA200	96.96

Levels
Previous Daily High	97.74
Previous Daily Low	97.32
Previous Weekly High	98.11
Previous Weekly Low	97.21
Previous Monthly High	98.68
Previous Monthly Low	96.28
Daily Fibonacci 38.2%	97.48
Daily Fibonacci 61.8%	97.58
Daily Pivot Point S1	97.25
Daily Pivot Point S2	97.07
Daily Pivot Point S3	96.83
Daily Pivot Point R1	97.67
Daily Pivot Point R2	97.91
Daily Pivot Point R3	98.09

Author

Flavio Tosti

Independent Analyst

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