|

US Dollar Index Technical Analysis: DXY stalemate as traders are awaiting a directional input

DXY daily chart

  • The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages near the 97.00 figure.
  • DXY is trading in a triangle pattern. Bulls have the main trend on their side.
  • Indicator have turned neutral as traders are awaiting a directional input. 

Additional key levels

Dollar Index Spot

Overview:
    Today Last Price: 96.77
    Today Daily change: -26 pips
    Today Daily change %: -0.268%
    Today Daily Open: 97.03
Trends:
    Previous Daily SMA20: 96.92
    Previous Daily SMA50: 96.3
    Previous Daily SMA100: 95.68
    Previous Daily SMA200: 94
Levels:
    Previous Daily High: 97.21
    Previous Daily Low: 96.83
    Previous Weekly High: 97.54
    Previous Weekly Low: 96.62
    Previous Monthly High: 97.7
    Previous Monthly Low: 95.68
    Previous Daily Fibonacci 38.2%: 97.06
    Previous Daily Fibonacci 61.8%: 96.98
    Previous Daily Pivot Point S1: 96.84
    Previous Daily Pivot Point S2: 96.64
    Previous Daily Pivot Point S3: 96.46
    Previous Daily Pivot Point R1: 97.22
    Previous Daily Pivot Point R2: 97.4
    Previous Daily Pivot Point R3: 97.6

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

More from Flavio Tosti
Share:

Editor's Picks

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.
 

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold sticks to a negative bias below $5,000; lacks bearish conviction

Gold remains depressed for the second consecutive day and trades below the $5,000 psychological mark during the Asian session on Tuesday, as a positive risk tone is seen undermining safe-haven assets. Meanwhile, bets for more interest rate cuts by the Fed keep a lid on the recent US Dollar bounce and act as a tailwind for the non-yielding bullion, warranting caution for bearish traders ahead of FOMC minutes on Wednesday.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter 

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

US CPI is cooling but what about inflation?

The January CPI data give the impression that the Federal Reserve is finally winning the war against inflation. Not only was the data cooler than expected, but it’s also beginning to edge close to the mystical 2 percent target. CBS News called it “the best inflation news we've had in months.”

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.