US Dollar Index technical analysis: The Greenback is settling near the 98.10 level

DXY (US Dollar Index) clings to daily gains as the Euro gets slammed by ECB’s Olli Rehn.
The next bull targets on the way up can be located at 98.10 and the 98.38 levels.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is evolving in a bull trend above its main daily simple moving averages (DSMAs). DXY got a boost as the European Central Bank’s (ECB) member Olli Rehn said that ECB stimulus package in September may beat expectations. Earlier in the early part of the New York session, the Retail Sales Control Group in July surpassed expectations adding to the positive sentiment on the Greenback.

DXY 4-hour chart

The market is settling above the 98.10 level while above its main SMAs. DXY bulls could drive the market towards the 98.38 resistance, before a potential run to the 98.68 and the 98.93 levels.

DXY 30-minute chart

The buying pressure is keeping the Greenback near daily highs. Immediate support could be found near the 98.10, 97.95 and 97.85 levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.14
Today Daily Change	0.15
Today Daily Change %	0.15
Today daily open	97.99

Trends
Daily SMA20	97.73
Daily SMA50	97.23
Daily SMA100	97.37
Daily SMA200	96.97

Levels
Previous Daily High	98.05
Previous Daily Low	97.66
Previous Weekly High	98.11
Previous Weekly Low	97.21
Previous Monthly High	98.68
Previous Monthly Low	96.28
Daily Fibonacci 38.2%	97.9
Daily Fibonacci 61.8%	97.81
Daily Pivot Point S1	97.75
Daily Pivot Point S2	97.51
Daily Pivot Point S3	97.36
Daily Pivot Point R1	98.14
Daily Pivot Point R2	98.29
Daily Pivot Point R3	98.53

Author

Flavio Tosti

Independent Analyst

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