US Dollar Index technical analysis: DXY is on life support holding at one-week low near 98.63

DXY has been hammered down to one-week low.
The market is holding at a key support level at the 98.63 price level.

Flavio Tosti Independent Analyst

DXY daily chart

The US Dollar Index (DXY) is in a bull trend above the main daily simple moving averages (DSMAs). DXY fell as the European Central Bank Minutes showed opposition to QE (Quantitative Easing). In the New York session, the US Core Consumer Price Index (CPI) matched analysts’ expectations at 2.4% YoY.

DXY four-hour chart

DXY is holding on at 98.63 key support near the 200 SMA on the four-hour chart. If the market can hold above this level DXY is set to continue its uptrend potentially revisiting the 99.00/99.10 zone. On the flips side, if the market loses the 96.63 level, then 98.30 can be on the cards for bears.

DXY 30-minute chart

DXY is trading below its main SMAs, suggesting a bearish momentum in the near term. Resistances are seen at the 98.85 and 99.00 price levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.72
Today Daily Change	-0.41
Today Daily Change %	-0.41
Today daily open	99.13

Trends
Daily SMA20	98.79
Daily SMA50	98.41
Daily SMA100	97.81
Daily SMA200	97.31

Levels
Previous Daily High	99.16
Previous Daily Low	98.89
Previous Weekly High	99.67
Previous Weekly Low	98.63
Previous Monthly High	99.46
Previous Monthly Low	97.99
Daily Fibonacci 38.2%	99.06
Daily Fibonacci 61.8%	98.99
Daily Pivot Point S1	98.96
Daily Pivot Point S2	98.79
Daily Pivot Point S3	98.69
Daily Pivot Point R1	99.23
Daily Pivot Point R2	99.33
Daily Pivot Point R3	99.5

Author

Flavio Tosti

Independent Analyst

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