US Dollar Index technical analysis: DXY ends the week within familiar ranges near the 97.55 level

  • After the recent drop at the start of August, DXY is stabilizing near the 97.55 level.
  • The level to beat for buyers are at the 97.80 level, followed by 98.10 and 98.38 resistances. 

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). DXY is attempting to find some support as the 10-year US bond yields are rebounding after falling sharply.

DXY 4-hour chart

DXY found support near the 96.55 level above the 200 SMA. The bulls need a clear break above the 97.80 resistance to reclaim the 98.10 level and the 50 SMA. Further up, buyers will look at the 98.36 resistance.

DXY 30-minute chart

The greenback has been consolidating its recent losses for the fourth consecutive day. However, a daily close below 97.15 could be seen as a potential bearish continuation towards the 97.00 figure. 

Additional key levels

Products You May Like

Articles You May Like

Brexit: Corbyn to bring opposition parties together next week to discuss stopping no-deal
Global Markets Fall As China Promises Tariff Retaliation
Gold Rallies As Equities Fall
Trump Tariff Reversal Caps Gold Rally
China’s ForeignMin Spokesman reiterates desire for a solution to the trade dispute that both sides can accept

Leave a Reply

Your email address will not be published. Required fields are marked *