US Dollar Index Technical Analysis: Immediate target remains at the 98.50 area

The upside momentum in DXY stays unchanged and eyes the 98.50 region.
The 99.00 handle is expected to return to the radar once 98.50 is cleared.

Pablo Piovano FXStreet

DXY has been rejected from the vicinity of 98.50 on Wednesday, sparking the ongoing corrective downside.

If the dollar surpasses the key 98.50 zone, then the next significant hurdle lies at the 99.00 neighbourhood ahead of 99.25 (high October 8^th).

Looking at the broader context, the positive view on DXY is expected to remain unchanged while above the 200-day SMA, today at 97.60.

Dollar Index Spot

Overview
Today last price	98.31
Today Daily Change	-0.08
Today Daily Change %	-0.08
Today daily open	98.39

Trends
Daily SMA20	98.01
Daily SMA50	98.23
Daily SMA100	98.11
Daily SMA200	97.62

Levels
Previous Daily High	98.44
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%	98.37
Daily Fibonacci 61.8%	98.33
Daily Pivot Point S1	98.29
Daily Pivot Point S2	98.18
Daily Pivot Point S3	98.11
Daily Pivot Point R1	98.47
Daily Pivot Point R2	98.54
Daily Pivot Point R3	98.65

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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