US Dollar Index Technical Analysis: DXY retraces down after US GDP readings

DXY daily chart

• The US Dollar Index (DXY) is trading in a bull trend above its main simple moving average (SMAs).
• DXY found resistance at the 98.34 level after the release of the US GDP (Gross Domestic Product) Q1.

DXY 4-hour chart

• The momentum is bullish as the index trades above its main SMAs, however a correction down can be on the cards.
• A break below 97.90 can lead to 97.60 and 97.26 if bears gather enough steam.
• Resistance is at 98.20 and 98.34 level.

Additional key levels