US Dollar Index technical analysis: DXY keeps the upbeat tone settling above the 99.00 figure

DXY (US Dollar Index) is hovering near the 2019 high as the market is trading at levels not seen since May 2017.
The next key resistances in line are seen at the 99.27 and 99.45 levels.

Flavio Tosti Independent Analyst

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving averages (DSMAs) as the market is reaching levels not seen since May 2017.

DXY 4-hour chart

Last Friday, the Greenback broke beyond the 98.94 resistance, the previous 2019 high, opening the gates for a potential continuation up towards 99.27 and 99.45 previous key levels. If the market holds above the 98.94 level, it can be seen as a bullish sign.

DXY 30-minute chart

DXY is climbing up above its main SMAs, suggesting bullish momentum in the short term. Immediate support can be seen at the 98.94 and the 98.68 levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	99.04
Today Daily Change	0.21
Today Daily Change %	0.21
Today daily open	98.83

Trends
Daily SMA20	98
Daily SMA50	97.52
Daily SMA100	97.5
Daily SMA200	97.06

Levels
Previous Daily High	99.02
Previous Daily Low	98.41
Previous Weekly High	99.02
Previous Weekly Low	97.62
Previous Monthly High	99.02
Previous Monthly Low	97.21
Daily Fibonacci 38.2%	98.79
Daily Fibonacci 61.8%	98.64
Daily Pivot Point S1	98.49
Daily Pivot Point S2	98.14
Daily Pivot Point S3	97.88
Daily Pivot Point R1	99.1
Daily Pivot Point R2	99.36
Daily Pivot Point R3	99.71

Author

Flavio Tosti

Independent Analyst

EUR/USD revisits 1.1780, or daily lows

EUR/USD now comes under further selling pressure, breaking below the 1.1800 support to reach daily troughs on Thursday. The pair’s decline comes in response to a sudden bout of USD strength amid steady geopolitical tensions. Ealier in the day, the ECB’s Lagarde delivered cautious remarks, although the currency remained apathetic.

GBP/USD makes a U-turn, challenges 1.3500

GBP/USD rapidly leaves behind Wednesday’s strong advance, putting the 1.3500 support to the test on Thursday. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold sticks to the bid bias, flirts with $5,200

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The precious metal adds to Wednesday’s optimism despite the Greenback trades in a firm fashion, although geopolitical tensions in the Middle East keep the yellow metal bid for now.