US Dollar Index technical analysis: DXY trading above 99.10 ahead of US CPI on Thursday

The FOMC Minutes failed to provide any new information.
The 99.30 resistance is the level to beat for bulls.
Market players will focus on the US inflation data on Thursday.

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main daily simple moving averages (DSMAs). The FOMC bring little to no action as Fed’s Powell reiterates known facts: “risks come from abroad, chances of a recession are limited, the economy overall is healthy.” Investors will focus on the Consumer Price Index (CPI) in the United States this Thursday at 12:30 GMT.

DXY four-hour chart

DXY is trading above the main SMAs, suggesting bullish momentum in the medium term. A daily close above 99.10 could open the gates towards 99.30/99.43 resistance zone.

DXY 30-minute chart

DXY is trading above the main SMAs, suggesting bullish momentum in the short term. Support is seen at the 99.00/99.10 support zone and the 98.85 price levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	99.13
Today Daily Change	0.01
Today Daily Change %	0.01
Today daily open	99.12

Trends
Daily SMA20	98.76
Daily SMA50	98.4
Daily SMA100	97.8
Daily SMA200	97.3

Levels
Previous Daily High	99.26
Previous Daily Low	98.85
Previous Weekly High	99.67
Previous Weekly Low	98.63
Previous Monthly High	99.46
Previous Monthly Low	97.99
Daily Fibonacci 38.2%	99.1
Daily Fibonacci 61.8%	99.01
Daily Pivot Point S1	98.89
Daily Pivot Point S2	98.67
Daily Pivot Point S3	98.48
Daily Pivot Point R1	99.3
Daily Pivot Point R2	99.49
Daily Pivot Point R3	99.71

Author

Flavio Tosti

Independent Analyst

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