Home US Dollar Index technical analysis: The Greenback is settling near the 98.10 level
FXStreet News

US Dollar Index technical analysis: The Greenback is settling near the 98.10 level

  • DXY (US Dollar Index) clings to daily gains as the Euro gets slammed by ECB’s Olli Rehn.
  • The next bull targets on the way up can be located at 98.10 and the 98.38 levels.
 

DXY daily chart

 
DXY (US Dollar Index) is evolving in a bull trend above its main daily simple moving averages (DSMAs). DXY got a boost as the European Central Bank’s (ECB) member Olli Rehn said that ECB stimulus package in September may beat expectations. Earlier in the early part of the New York session, the Retail Sales Control Group in July surpassed expectations adding to the positive sentiment on the Greenback.
 

DXY 4-hour chart

 
The market is settling above the 98.10 level while above its main SMAs. DXY bulls could drive the market towards the 98.38 resistance, before a potential run to the 98.68 and the 98.93 levels.  
 

DXY 30-minute chart

 
The buying pressure is keeping the Greenback near daily highs. Immediate support could be found near the 98.10, 97.95 and 97.85 levels.
 

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.