US Dollar Index Technical Analysis: Rally faltered near 98.50 ahead of key events

DXY appears to have met a tough resistance in the 98.40/50 band, coincident with May peaks.
Another visit to the 2019 highs just below the 99.00 barrier remains well on the cards as long as the short-term support line, today at 97.57, underpins.
In the meantime, the index is looking to today’s FOMC minutes and Friday’s speech by Chief Powell for near term direction. The 21-day SMA at 97.90 should offer interim contention in case sellers rush to the markets, while the 2019 highs near the 99.00 mark should be the next target on a resumption of the up move.

Pablo Piovano FXStreet

DXY daily chart

Dollar Index Spot

Overview
Today last price	98.22
Today Daily Change	35
Today Daily Change %	0.06
Today daily open	98.16

Trends
Daily SMA20	97.94
Daily SMA50	97.34
Daily SMA100	97.41
Daily SMA200	97

Levels
Previous Daily High	98.45
Previous Daily Low	98.12
Previous Weekly High	98.34
Previous Weekly Low	97.32
Previous Monthly High	98.68
Previous Monthly Low	96.28
Daily Fibonacci 38.2%	98.25
Daily Fibonacci 61.8%	98.32
Daily Pivot Point S1	98.04
Daily Pivot Point S2	97.91
Daily Pivot Point S3	97.71
Daily Pivot Point R1	98.37
Daily Pivot Point R2	98.57
Daily Pivot Point R3	98.7

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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