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  • DXY (US Dollar Index) is down for a second consecutive day after hitting new 2019 highs on Tuesday.  
  • The levels to beat for sellers are the 94.42 and 98.20 support levels.

DXY daily chart

DXY (US Dollar Index) is trading in a bull trend above the main daily simple moving averages (DSMAs). The market is correcting down after hitting new 2019 highs on Tuesday.  

DXY four-hour chart

The Greenback is under bearish pressure below the 98.68 resistance. The market reached the 98.42 support and the 50 SMA this Wednesday. DXY is most likely going to extend the current decline towards 98.20 and potentially 97.90 support levels in the medium term.

DXY 30-minute chart

DXY is trading below its main SMAs, suggesting bearish momentum in the near term. Immediate resistances can be seen at the 98.68 and 98.94 levels.  

Additional key levels