US Dollar Index technical analysis: DXY loses steam, trades below the 98.42 level

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  • The Greenback is losing steam this Tuesday as the bears broke below the 98.42 level.
  • Investors will closely be watching the FOMC on Wednesday. 
 

DXY daily chart

 
 
DXY (US Dollar Index) is in a bull trend above the main daily simple moving averages (DSMAs). DXY is losing momentum this Tuesday. Traders will be on the lookout on Thursday with the FOMC.
 

DXY four-hour chart

 
DXY is trading below the 50/100 SMAs, suggesting a consolidation in the medium term. The market seems to be headed towards 98.20 resistance and the 200 SMA. 

DXY 30-minute chart

 
DXY is trading below the main SMAs, suggesting a bearish momentum in the near term. Immediate resistances can be seen near 98.42 and 98.55 price levels. 
 

Additional key levels

 

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