US Dollar Index Technical Analysis: DXY takes a breather near 97.00 figure

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs).

DXY 4-hour chart

DXY is trading above its main SMAs suggesting bullish momentum in the medium-term.

DXY 30-minute chart

DXY is trading between the 50 and 200 SMAs suggesting a sideways market in the short-term.
Bears will be trying to break below 97.00 to reach 96.70 to the downside.
On the flip side, resistances are seen at 97.20 and 98.00 level.

Additional key levels

Dollar Index Spot

Overview:
    Today Last Price: 97.05
    Today Daily change: -14 ticks
    Today Daily change %: -0.14%
    Today Daily Open: 97.19
Trends:
    Daily SMA20: 96.21
    Daily SMA50: 96.4
    Daily SMA100: 96.32
    Daily SMA200: 95.47
Levels:
    Previous Daily High: 97.19
    Previous Daily Low: 96.63
    Previous Weekly High: 96.69
    Previous Weekly Low: 95.58
    Previous Monthly High: 96.96
    Previous Monthly Low: 95.03
    Daily Fibonacci 38.2%: 96.98
    Daily Fibonacci 61.8%: 96.84
    Daily Pivot Point S1: 96.82
    Daily Pivot Point S2: 96.44
    Daily Pivot Point S3: 96.26
    Daily Pivot Point R1: 97.38
    Daily Pivot Point R2: 97.56
    Daily Pivot Point R3: 97.94

Author

Flavio Tosti

Independent Analyst

EUR/USD gains traction to near 1.1800 as tariff uncertainty weighs on US Dollar

The EUR/USD pair holds positive ground around 1.1795 during the early Asian session on Tuesday. The US Dollar weakens against the Euro amid US tariff uncertainty. The release of the US January Producer Price Index report will be in the spotlight later on Friday.

GBP/USD treads water near 1.3500 as BoE-Fed divergence debate stalls

GBP/USD spent Monday spinning in place as market participants await a fresh catalyst to break the pair out of its recent range. The BoE's February hold came with a surprisingly dovish 5-4 split, and UK Consumer Price Index data last week showed inflation easing to 3.0%, reinforcing the case for earlier rate cuts, with most economists now looking to April or March for the next move.

Gold climbs above $5,200 on geopolitical tensions, trade uncertainty

Gold price jumps to around $5,230 during the early Asian session on Tuesday. The rally of the precious metal is bolstered by heightened geopolitical tensions and global trade uncertainty following US tariff decisions. Traders brace for the US January Producer Price Index report on Friday for fresh impetus.

Solana DeFi platform Step Finance to close operations following treasury hack

The Solana based decentralized finance platform Step Finance announced it will end all operations effective immediately following a breach that drained its treasury.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.