US Dollar Index Technical Analysis: DXY trading at two-day highs ahead of FOMC minutes

DXY has been challenging the 98.00 handle ahead of the FOMC minutes.
The level to beat for bulls is the 98.00 handle followed by 98.20 and 98.40 price levels.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above the 200-day simple moving average (DMA). This Wednesday, the market is grinding higher ahead of the FOMC minutes at 19:00 GMT.

DXY 4-hour chart

DXY is challenging the 98.00 handle and the 200 SMA. As the market is rebounding a break above the 98.00 level can lead to further gains towards the 98.20 and 98.40, near the November highs.

DXY 30-minute chart

The greenback is trading above the 50/100 SMA, suggesting a potential correction up in the medium term. However, 97.70 needs to hold prices, to prevent the market to drop back towards the 97.50 level.

Additional key levels

Dollar Index Spot

Overview
Today last price	97.97
Today Daily Change	0.13
Today Daily Change %	0.13
Today daily open	97.84

Trends
Daily SMA20	97.85
Daily SMA50	98.26
Daily SMA100	98.04
Daily SMA200	97.58

Levels
Previous Daily High	97.89
Previous Daily Low	97.75
Previous Weekly High	98.45
Previous Weekly Low	97.96
Previous Monthly High	99.67
Previous Monthly Low	97.15
Daily Fibonacci 38.2%	97.84
Daily Fibonacci 61.8%	97.8
Daily Pivot Point S1	97.76
Daily Pivot Point S2	97.69
Daily Pivot Point S3	97.62
Daily Pivot Point R1	97.9
Daily Pivot Point R2	97.97
Daily Pivot Point R3	98.04

Author

Flavio Tosti

Independent Analyst

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