US Dollar Index Technical Analysis: The near-term constructive view stays intact above 97.96

DXY is struggling for direction in the 98.40 region, managing to rebound from Thursday’s lows near the 98.00 handle.
A negative surprise at today’s US Payrolls could encourage sellers to return to the market and drive the buck lower to, initially, the short-term support line at 97.96. A breach of this level should allow for a deeper retracement to the 55-day SMA at 97.58.
In the meantime, the bullish view is expected to persist while the support line, today at 97.96, underpins.

Pablo Piovano FXStreet

DXY daily chart

Dollar Index Spot

Overview
Today last price	98.41
Today Daily Change	14
Today Daily Change %	0.01
Today daily open	98.4

Trends
Daily SMA20	98.21
Daily SMA50	97.72
Daily SMA100	97.56
Daily SMA200	97.09

Levels
Previous Daily High	98.54
Previous Daily Low	98.08
Previous Weekly High	99.02
Previous Weekly Low	97.62
Previous Monthly High	99.02
Previous Monthly Low	97.21
Daily Fibonacci 38.2%	98.36
Daily Fibonacci 61.8%	98.26
Daily Pivot Point S1	98.14
Daily Pivot Point S2	97.88
Daily Pivot Point S3	97.68
Daily Pivot Point R1	98.6
Daily Pivot Point R2	98.8
Daily Pivot Point R3	99.06

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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