US Dollar Index technical analysis: The Greenback is back, clings to daily highs near 98.68

The Greenback is rising from last week lows as the bulls are breaking through many layers of resistance.
Investors will pay close attention to the FOMC on Wednesday.
The level to beat for buyers is the 98.68 and 98.10 resistance levels.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is in a bull trend above its main daily simple moving averages (DSMAs). DXY is gaining some momentum in a risk-off environment. Investors will closely be monitoring the FOMC on Wednesday.

DXY four-hour chart

DXY is trading above the main SMAs, suggesting a bullish bias in the medium term. Bulls broke through several levels of resistance at the 98.42 and 98.55 price levels. The market is now challenging the 98.68 level which, if broken, can open the doors to the 99.10 key resistance.

DXY 30-minute chart

DXY is trading above the main SMAs, suggesting a bullish momentum in the near term. Immediate support can be found at the 99.55 and 98.42 price levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.67
Today Daily Change	0.47
Today Daily Change %	0.48
Today daily open	98.2

Trends
Daily SMA20	98.37
Daily SMA50	97.92
Daily SMA100	97.6
Daily SMA200	97.13

Levels
Previous Daily High	98.42
Previous Daily Low	97.99
Previous Weekly High	99.11
Previous Weekly Low	97.99
Previous Monthly High	99.02
Previous Monthly Low	97.21
Daily Fibonacci 38.2%	98.15
Daily Fibonacci 61.8%	98.26
Daily Pivot Point S1	97.99
Daily Pivot Point S2	97.77
Daily Pivot Point S3	97.56
Daily Pivot Point R1	98.42
Daily Pivot Point R2	98.63
Daily Pivot Point R3	98.85

Author

Flavio Tosti

Independent Analyst

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