US Dollar Index technical analysis: DXY ends the week above the 98.10 support

  • DXY (US Dollar Index) is ending the week above 98.10 support.
  • The next targets to the upside could be located at 98.10 and the 98.38 levels.

DXY daily chart

DXY (US Dollar Index) is in a bull trend above its main daily simple moving averages (DSMAs). DXY got a boost on Thursday as the European Central Bank’s (ECB) member Olli Rehn said that ECB stimulus package in September might overshoot expectations. Also, the Retail Sales Control Group in July surpassed expectations adding to the positive sentiment on the Greenback. On Friday, Consumer Confidence disappointed market expectations.

DXY 4-hour chart

The market is settling above 98.10 and its main SMAs. DXY bulls need to clear 98.38 to climb towards 98.68 and the 98.93 levels. 

DXY 30-minute chart

The Greenback is trading above its main SMAs, suggesting bullish momentum. Immediate support could be found near the 98.10, 97.95 and 97.85 levels.

Additional key levels

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