US Dollar Index Technical Analysis: Upside ready to tackle the 98.50 area

The recovery in DXY remains well and sound near multi-week highs.
Further gains are likely once 98.50 is cleared on a sustainable fashion.

Pablo Piovano FXStreet

DXY keeps the constructive bias unchanged above the key 98.00 mark on Wednesday.

Further upside impetus should now target monthly tops in the 98.50 region. A convincing breakout of this hurdle should pave the way for a move to the 99.00 hurdle and potentially beyond.

Looking at the broader context, the positive view on DXY is expected to remain unchanged while above the 200-day SMA, today at 97.58.

Dollar Index Spot

Overview
Today last price	98.34
Today Daily Change	11
Today Daily Change %	0.08
Today daily open	98.26

Trends
Daily SMA20	97.97
Daily SMA50	98.23
Daily SMA100	98.09
Daily SMA200	97.61

Levels
Previous Daily High	98.38
Previous Daily Low	98.23
Previous Weekly High	98.31
Previous Weekly Low	97.68
Previous Monthly High	99.67
Previous Monthly Low	97.15
Daily Fibonacci 38.2%	98.29
Daily Fibonacci 61.8%	98.32
Daily Pivot Point S1	98.2
Daily Pivot Point S2	98.14
Daily Pivot Point S3	98.05
Daily Pivot Point R1	98.35
Daily Pivot Point R2	98.44
Daily Pivot Point R3	98.5

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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