US Dollar Index Technical Analysis: Next target emerges at 98.50

The move up in DXY is once again flirting with the 98.00 region.
Immediately above aligns the monthly peaks in the mid-98.00s.

Pablo Piovano FXStreet

The index is now navigating the area of weekly highs at/around the key 98.00 handle. The gradual recovery from recent lows is also testing the 10-day and 100-day SMAs just above 98.00 the figure.

Immediately to the upside now emerges the 55-day at 98.23. Further up is located the 98.50 region, or monthly highs. A sustainable break of this hurdle should pave the way for a move to 99.00 and beyond.

In the meantime, as long as the 200-day SMA at 97.57 holds the downside, the constructive outlook on DXY is seen unchanged.

Dollar Index Spot

Overview
Today last price	98.04
Today Daily Change	19
Today Daily Change %	0.05
Today daily open	97.99

Trends
Daily SMA20	97.89
Daily SMA50	98.24
Daily SMA100	98.07
Daily SMA200	97.59

Levels
Previous Daily High	98.04
Previous Daily Low	97.73
Previous Weekly High	98.45
Previous Weekly Low	97.96
Previous Monthly High	99.67
Previous Monthly Low	97.15
Daily Fibonacci 38.2%	97.92
Daily Fibonacci 61.8%	97.85
Daily Pivot Point S1	97.8
Daily Pivot Point S2	97.61
Daily Pivot Point S3	97.49
Daily Pivot Point R1	98.11
Daily Pivot Point R2	98.23
Daily Pivot Point R3	98.42

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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