US Dollar Index Technical Analysis: Failed breakout above the critical 98.50 resistance

DXY retreats after hitting fresh November highs.
A correction seems underway. Support is seen at the 98.20 level and 98.00 handle.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving averages (DMAs). However, this Friday, the greenback had a failed breakout above the 98.50 resistance.

DXY four-hour chart

DXY is trending up above the main SMAs on the four-hour chart. However, the market rejected a critical resistance at the 98.50 level after hitting fresh November highs. To continue the uptrend, bulls must have a daily close above the 98.50 level to reach 99.20 level and the 99.67 level (2019 high).

DXY 30-minute chart

The greenback dropped below its main SMAs, suggesting a bearish momentum in the near term. A break below the 98.20 level can expose the 98.00 handle.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.26
Today Daily Change	-0.08
Today Daily Change %	-0.08
Today daily open	98.34

Trends
Daily SMA20	98.06
Daily SMA50	98.23
Daily SMA100	98.12
Daily SMA200	97.63

Levels
Previous Daily High	98.4
Previous Daily Low	98.26
Previous Weekly High	98.31
Previous Weekly Low	97.68
Previous Monthly High	99.67
Previous Monthly Low	97.15
Daily Fibonacci 38.2%	98.31
Daily Fibonacci 61.8%	98.35
Daily Pivot Point S1	98.27
Daily Pivot Point S2	98.19
Daily Pivot Point S3	98.13
Daily Pivot Point R1	98.41
Daily Pivot Point R2	98.47
Daily Pivot Point R3	98.55

Author

Flavio Tosti

Independent Analyst

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