26 Aug 2019
US Dollar Index technical analysis: DXY remains under pressure below the 98.10 resistance
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DXY (US Dollar Index) is recovering after the sharp Friday’s decline.
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The levels to beat for bears are at 97.95 and 97.85.
DXY daily chart
DXY (US Dollar Index) trading in a bull trend above the main daily simple moving averages (DSMAs). The market is consolidating the sharp drop seen last Friday.
DXY 4-hour chart
DXY remains under pressure below 98.10 and the 50 SMA. Bears will need to clear 97.95/85 and 97.70 support if they want to create a meaningful breakdown towards the 97.20 level.
DXY 30-minute chart
The Greenback is trading below a downward sloping 100/200 SMAs, suggesting bearish momentum in the short term. The main resistance to break for bulls is the 98.10 level.
Additional key levels