Home US Dollar Index Price Analysis: DXY holding its ground as bulls eye the 97.55 resistance
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US Dollar Index Price Analysis: DXY holding its ground as bulls eye the 97.55 resistance

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  • DXY is showing signs of bullish interest while off the December lows, but it is still below the 200 DMA.  
  • The level to beat for buyers is the 97.55 resistance.
 

DXY daily chart

 
DXY (US Dollar Index) is trading off the December lows, however still trading under the critical 200-day simple moving average (DMA).
 

DXY four-hour chart

 
The market is consolidating the modest advance from the December lows. Bulls are looking for a clear break above the 97.55 resistance to open the way for a potential run to the 97.85 level. On the flip side, support can be located at 97.25 and the 97.00 handle.  
     

Additional key level

 

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