US Dollar Index Technical Analysis: Risk-off keeps investors away from the greenback


  • DXY is challenging the 97.70 key support level and the 200 DMA. 
  • The 97.20 level seems to be on the bears’ radar in the medium term.
 

DXY daily chart

 
DXY (US Dollar Index) is trading in a bull trend just above the 200-day simple moving averages (DMA). However, the market is becoming increasingly weak and vulnerable to the downside as the risk-off is diminishing the demand for US dollars.
  

DXY four-hour chart

 
DXY is challenging critical support at the 97.70 level while trading below the main SMAs. Bears will be looking to push the market below this level. If the breakdown is successful, the market could start to decline towards the 97.20 support level in the medium term.
   
 

DXY 30-minute chart

 
The picture on the 30-minute chart remains bearish as well with the greenback under pressure below its main SMAs. Resistance can be seen near the 98.00 and 98.20 levels.
 

Additional key levels

Dollar Index Spot

Overview
Today last price 97.73
Today Daily Change -0.14
Today Daily Change % -0.14
Today daily open 97.87
 
Trends
Daily SMA20 98.13
Daily SMA50 98.21
Daily SMA100 98.14
Daily SMA200 97.64
 
Levels
Previous Daily High 98.38
Previous Daily Low 97.81
Previous Weekly High 98.54
Previous Weekly Low 98.17
Previous Monthly High 98.54
Previous Monthly Low 97.16
Daily Fibonacci 38.2% 98.03
Daily Fibonacci 61.8% 98.16
Daily Pivot Point S1 97.66
Daily Pivot Point S2 97.45
Daily Pivot Point S3 97.09
Daily Pivot Point R1 98.23
Daily Pivot Point R2 98.59
Daily Pivot Point R3 98.8

 

 

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