News

US Dollar Index technical analysis: Greenback is creeping up as DXY ends the week on its high near 98.00 figure

  • DXY gained ground on Friday on the back of positive US data. The Michigan Consumer Index for April came in better-than-expected at 102.4 vs. 97.5 forecast.
  • DXY is now quite close to the 2019 high at 98.34.

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs).

DXY 4-hour chart

The market is trading above its main SMAs suggesting bullish momentum in the near term. The 98.10 and the 98.34 resistance remain the main targets to the upside.

DXY 30-minute chart

The buck is trading above its main SMAs suggesting a bullish bias in the near term. The market is creeping higher as the bulls will try to break above the 98.00 figure next week. A break above the level should open the doors to 98.10 and 98.34, the 2019 high. Immediate support is seen at 98.83 and 98.77 followed by 97.44, Thursday’s low.


Additional key levels

Articles You May Like

S&P 500 & DAX Fundamental Forecast
GBP/USD hits fresh daily lows under 1.2400
Aggressive 1 Minute Forex Scalping (Simple Yet Very Profitable)
Seven times and places to book your profits
WTI dips below $57 after stalling out at the July 31 high

Leave a Reply

Your email address will not be published.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