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

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD retreats after strong NFP, weak German data

EUR/USD is trading below   1.11 after US Non-Farm Payrolls beat expectations with 266K and mixed wage growth. Earlier, weak German data weighed on the euro. Updates on trade are awaited.

EUR/USD News

GBP/USD shrugs off strong NFP, focuses on UK elections

GBP/USD is trading below 1.3150 but off the post-NFP lows. The US gained more jobs than expected. The Conservatives remain in the lead ahead of the debate between PM Johnson and Labour leader Corbyn.

GBP/USD News

US recession? Not so fast, a calm look at the economy and currencies ahead of the NFP

Recent US economic indicators have been downbeat, but they include silver linings and are backed by robust consumption. Valeria Bednarik, Joseph Trevisani, and Yohay Elam...

Read more

Gold drops to fresh multi-day lows on upbeat NFP report

Gold faded an intraday bullish spike to the $1480 area and tumbled to fresh multi-day lows, around the $1465 region in reaction to upbeat US monthly jobs report.

Gold News

USD/JPY: bearish ahead of US employment figures

Japanese data missed the market’s expectations, triggering fresh concerns about the economy. Focus on US employment figures, market players anticipate dismal numbers. USD/JPY is technically bearish could break below the 108.00 level.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures