US Dollar Index technical analysis: DXY down little, up little as the NY session is about to end

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  • DXY is recovering slightly after being on the back foot this Wednesday.
  • The level to beat for bulls is 97.30 and 97.55.

 

DXY daily chart

 

The US Dollar Index (DXY) had a small consolidation day this Wednesday. It is trading in a bull trend just above its main simple moving average (DSMA).

 

DXY 4-hour chart

 

The market is trading above its main SMAs suggesting bullish momentum in the medium term. Bulls would need a break above 97.30 to reach 97.55 on the way up.

 

 

DXY 30-minute chart

 

DXY found some support near 97.15 and the 100 SMA. In the event the level is breached 97.00 and 96.80 can become bear targets.

Additional key levels

 

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