US Dollar Index technical analysis: DXY under pressure near one-week lows

October 10, 2019 Off By admin-445
  • DXY is under bearish pressure trading at one-week lows.
  • A break below 98.63 key support could lead to further losses. 
 

DXY daily chart

 
The US Dollar Index (DXY) is in a bull trend above the main daily simple moving averages (DSMAs). Earlier in the New York session, the US Core Consumer Price Index (CPI) matched analysts’ expectations at 2.4% YoY. 
 

DXY four-hour chart

 
DXY is trading at one-week lows, challenging the 96.64 support and the 200 SMA on the four-hour chart. If the market hold above this level DXY is set to remain with the current October range. 
 
 

DXY 30-minute chart

 
 
DXY is trading below the main SMAs, suggesting bearish momentum in the near term. Resistances are seen at the 98.85 and 99.00 price levels. 

 

Additional key levels 

 

Source: www.forexcrunch.com