US Dollar Index Technical Analysis: Further upside could extend to the 98.00 mark and beyond

The up move in DXY has reached and surpassed March peaks in the 97.70 region, where it is now looking to stabilize.
The FOMC meeting will be key in determining the price action in the very near term. That said, immediately to the upside emerges the 98.00 neighbourhood ahead of 2019 peaks in the 98.35/40 band.
On the downside, the 21-day/55-day SMAs in the 97.40/45 region should offer initial contention along with weekly lows in the 97.30 region. Further south aligns the 97.13/05 zone, coincident with the 10-day and 100-day SMAs.
Looking at the broader picture, the 200-day SMA and the multi-month support line in the mid-96.00s should hold the downside and keep the constructive bias unchanged for the time being.

Pablo Piovano FXStreet

DXY daily chart

Dollar Index Spot

Overview
Today last price	97.64
Today Daily Change	9
Today Daily Change %	-0.01
Today daily open	97.65

Trends
Daily SMA20	97.44
Daily SMA50	97.5
Daily SMA100	97.09
Daily SMA200	96.61

Levels
Previous Daily High	97.77
Previous Daily Low	97.37
Previous Weekly High	97.59
Previous Weekly Low	96.58
Previous Monthly High	98.38
Previous Monthly Low	97.03
Daily Fibonacci 38.2%	97.62
Daily Fibonacci 61.8%	97.52
Daily Pivot Point S1	97.42
Daily Pivot Point S2	97.2
Daily Pivot Point S3	97.02
Daily Pivot Point R1	97.82
Daily Pivot Point R2	98
Daily Pivot Point R3	98.22

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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