US Dollar Index Technical Analysis: Greenback bulls can reach 96.50 level

Flavio Tosti Independent Analyst

DXY daily chart

DXY is trading in a bull trend above the 100 and 200-day simple moving average (SMA).

DXY 4-hour chart

DXY bulls have reclaimed the 50 and 100 SMA but they need to overcome the 200 SMA.

DXY 30-minute chart

DXY bulls are still in charge and they might reach the 96.50 target as they have the momentum on their side.
However, it is unlikely that any sustained move above 96.50 might go very far as 96.00 is still on the card for DXY bears.

Additional key levels

Dollar Index Spot

Overview:
    Today Last Price: 96.34
    Today Daily change: -0.03 pips
    Today Daily change %: -0.03%
    Today Daily Open: 96.37
Trends:
    Daily SMA20: 96.18
    Daily SMA50: 96.65
    Daily SMA100: 96.07
    Daily SMA200: 95.02
Levels:
    Previous Daily High: 96.4
    Previous Daily Low: 96.01
    Previous Weekly High: 96.4
    Previous Weekly Low: 95.47
    Previous Monthly High: 97.71
    Previous Monthly Low: 96.06
    Daily Fibonacci 38.2%: 96.25
    Daily Fibonacci 61.8%: 96.16
    Daily Pivot Point S1: 96.12
    Daily Pivot Point S2: 95.87
    Daily Pivot Point S3: 95.73
    Daily Pivot Point R1: 96.51
    Daily Pivot Point R2: 96.65
    Daily Pivot Point R3: 96.9

Author

Flavio Tosti

Independent Analyst

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.