- DXY (US Dollar Index) is challenging the Tuesday’s highs.
- The market is nearing an important resistance level at the 98.10 level.
DXY daily chart
DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving averages (DSMAs). The market is in a small range this Tuesday.
DXY 4-hour chart
DXY is approaching a critical resistance at the 98.10 level near the 50 SMA. If the buyers manage to have a sustained breakout above this level, the market could test 98.38 on the way up.
DXY 30-minute chart
The Greenback is trading below a descending 200 SMAs, suggesting a bearish bias in the short term. However, sellers would need to defend the 98.10 resistance and clear 97.95/85 and 97.70 support if they want to generate a meaningful breakdown towards the 97.20 level.
Additional key levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
ECB reduces rates by 25 bps as largely expected – LIVE
On Thursday, the ECB delivered the 25 bps cut everyone expected, trimming the Deposit Facility Rate to 2.25%. EUR/USD remained within its daily sideline theme around the 1.1350-1.1360 band in the wake of the release. Now, all eyes are on Christine Lagarde’s live press conference as investors hang on her every word for clues about what comes next.
GBP/USD advances to daily highs past 1.3250
GBP/USD is picking up extra upside impulse and is revisiting the 1.3250 zone, or daily peaks, as the US Dollar is trimming part of its earlier advance. The move in Cable remains propped up by a firm tone in the risk complex.
Gold remains affered, recedes to the $3,340 area post-ECB
Gold powered to a fresh record, flirting with the $3,360 area per troy ounce, before embarking on a correction to the current $3,340 zone, always on the back of the decent rebound in the US Dollar and the recovery in US Treasury yields across the curve.
Crypto market cap fell more than 18% in Q1, wiping out $633.5 billion after Trump’s inauguration top
CoinGecko’s Q1 Crypto Industry Report highlights that the total crypto market capitalization fell by 18.6% in the first quarter, wiping out $633.5 billion after topping on January 18, just a couple of days ahead of US President Donald Trump’s inauguration.
Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.