US Dollar Index technical analysis: Greenback is creeping up as DXY ends the week on its high near 98.00 figure


  • DXY gained ground on Friday on the back of positive US data. The Michigan Consumer Index for April came in better-than-expected at 102.4 vs. 97.5 forecast.
  • DXY is now quite close to the 2019 high at 98.34.

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs).

DXY 4-hour chart

The market is trading above its main SMAs suggesting bullish momentum in the near term. The 98.10 and the 98.34 resistance remain the main targets to the upside.

DXY 30-minute chart

The buck is trading above its main SMAs suggesting a bullish bias in the near term. The market is creeping higher as the bulls will try to break above the 98.00 figure next week. A break above the level should open the doors to 98.10 and 98.34, the 2019 high. Immediate support is seen at 98.83 and 98.77 followed by 97.44, Thursday’s low.


Additional key levels

Dollar Index Spot

Overview
Today last price 97.98
Today Daily Change 0.15
Today Daily Change % 0.15
Today daily open 97.83
 
Trends
Daily SMA20 97.64
Daily SMA50 97.22
Daily SMA100 96.75
Daily SMA200 96.38
Levels
Previous Daily High 97.88
Previous Daily Low 97.44
Previous Weekly High 97.74
Previous Weekly Low 97.13
Previous Monthly High 98.34
Previous Monthly Low 96.74
Daily Fibonacci 38.2% 97.71
Daily Fibonacci 61.8% 97.61
Daily Pivot Point S1 97.55
Daily Pivot Point S2 97.28
Daily Pivot Point S3 97.11
Daily Pivot Point R1 97.99
Daily Pivot Point R2 98.16
Daily Pivot Point R3 98.43

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: bears pressuring, 1.0980 critical support

Risk aversion took over the FX board on Friday, weighing on high-yielding assets. The EUR/USD pair, finished the week just a handful of pips above the 1.1000 figure amid mounting tensions between the US and China.

EUR/USD News

GBP/USD: at risk of losing more ground in the short-term

The GBP/USD pair advanced up to 1.2581, it highest in over two months, but was unable to sustain gains, ending the week around 1.2470. Cable could keep losing ground on a break below 1.2460, the immediate support.

GBP/USD News

USD/JPY: at a bring of breaking lower

Fresh risk-off flows resulted in the USD/JPY pair trimming weekly gains on Friday, ending the week at 107.55. The pair barely holding above a critical Fibonacci support at 107.45. Japan’s National inflation steady at lows in August.

USD/JPY News

Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more

Forex MAJORS

Cryptocurrencies

Signatures