8 Aug 2019
US Dollar Index technical analysis: DXY is flatlined near 97.55 as US yields stabilize
- DXY is consolidating the recent losses coiling around the 97.55 level.
- The level to beat for buyers are seen at 97.80, 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). The market is attempting to find some footing as the 10-year US bond yields are consolidating after falling sharply.
DXY 4-hour chart
DXY found support at the 96.55 support above the 200 SMA. The bulls need a clear break beyond the 97.80 resistance to recapture the 98.10 level and the 50 SMA. Further up lies the 98.36 resistance.
DXY 30-minute chart
The greenback has been consolidating its recent losses for the third consecutive day. However, a daily close below 97.15 would be seen as a potential bearish continuation towards the 97.00 figure.
Additional key levels