DXY retraces down from the 2019 high as the Federal Reserve might cut rates in September. The level to beat for bears are seen at 98.10, followed by 97.80 and 97.55 supports. DXY daily chart DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). However, the greenback is currently retracing down from the 2019 highs. The market is speculating that there will be another 25bps interest rate cut this September. DXY 4-hour chart DXY is testing 98.10 support and the 50 SMA. The bulls would need to reclaim 98.38 and 98.68 resistance in order to resume the bull trend. DXY 30-minute chart DXY is trading below its main SMAs, suggesting bearish momentum in the near term. A break below 98.10 support should lead to 97.80 and the 97.55 level on the way down. Additional key levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Cash (BCH) sees new development specs for heightened privacy and double-spend proofs FX Street 4 years DXY retraces down from the 2019 high as the Federal Reserve might cut rates in September. The level to beat for bears are seen at 98.10, followed by 97.80 and 97.55 supports. DXY daily chart DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). However, the greenback is currently retracing down from the 2019 highs. The market is speculating that there will be another 25bps interest rate cut this September. DXY 4-hour chart DXY is testing 98.10 support and the 50 SMA. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
