25 Nov 2019
US Dollar Index Technical Analysis: DXY approaching critical resistance at the 98.50 level
- DXY is grinding higher on the first day of the week.
- The level to beat for buyers is the 98.50 price level.
DXY daily chart
DXY (US Dollar Index) is trading in an uptrend above the main daily simple moving averages (DMAs). This Monday, DXY is trading mixed hanging near the November highs. The market is nearing an important resistance at the 98.50 level.
DXY 4-hour chart
DXY is evolving above the main SMAs, suggesting a bullish bias in the medium term. If the buyers overcome the 98.50 level, the market is set to accelerate towards the 99.20 level and possibly to the 99.67 level (2019 high).
DXY 30-minute chart
The index is trading above the main SMAs, suggesting a bullish bias in the near term. Support is seen at the 98.20 and 98.00 price levels.
Additional key levels