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DXY daily chart

 

  • The US Dollar Index (DXY) is trading in a bull trend above its main simple moving average (SMAs).
  • DXY found resistance at the 98.34 level after the release of the US GDP (Gross Domestic Product) Q1.

DXY 4-hour chart

 

  • The momentum is bullish as the index trades above its main SMAs, however a correction down can be on the cards.
  • A break below 97.90 can lead to 97.60 and 97.26 if bears gather enough steam.
  • Resistance is at 98.20 and 98.34 level.

 

Additional key levels