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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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