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  • The Dollar Index is dropping amid positive trade talks.
  • DXY trades 0.40% lower and looks to heading to the next support.

Dollar Index Chart

The Dollar Index is tanking on Friday as traders await the signing of the “phase one” trade deal.

There are two support levels in focus the psychological 97.00 area and below that 96.72 wave low.

There is also a trendline marked in red that might act as support a support area.

Lastly, looking at the RSI there seems to be room for a move lower as we are not in the oversold area.

Dollar Index Technical Analysis

Additional Levels