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6 Aug 2019
US Dollar Index technical analysis: DXY find some footing above 97.55 as US equities bounce sharply
- DXY regained some strength this Tuesday as the risk-on sentiment helped the greenback.
- The level to beat for bulls are seen at 97.80, followed by 98.10 and 98.38 supports.
DXY daily chart
DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). The greenback regained some ground as the market mood improved this Tuesday. The US equity market bounced sharply as China revalued the yuan, which was seen as a sign of easing tensions in the US-China trade war.
DXY 4-hour chart
DXY found support at the 96.16 support and the 200 SMA. Bulls want to break the 97.80 resistance and recapture the 98.10 level near the 50 SMA.
DXY 30-minute chart
DXY is trading above the 50 SMA, suggesting a correction up in the near term. The market can find immediate support at the 97.55 and 97.30 levels.
Additional key levels