- The US dollar index could test the initial support in the 97.70 $ 970 EMA.
- The short -term pricing impulse remains strong since the DXY remains above the 9 -day EMA.
- The main barrier seems to be at the upper limit of the descending channel around $ 98.60.
The American dollar index (DXY), which measures the value of the US dollar (USD) compared to six main currencies, is losing ground after registering profits in the four previous consecutive sessions and quoting around 98.00 during the first European hours on Tuesday.
The bearish trend seems persistent, suggested by the technical analysis of the daily chart, which shows the index remaining inside a descending channel pattern. The 14 -day relative force (RSI) index is around level 50, indicating a neutral bias. However, the short -term pricing impulse is stronger since the DXY remains above the 9 -day exponential (EMA) mobile average.
At the bottom, the DXY could find initial support in the 97.70 $ 970 EMA. A rupture below this level could weaken the impulse of short -term prices and exert down pressure on the US dollar index to navigate in the region around the minimum of three years in $ 96.38, recorded on July 1, followed by the lower limit of the descending channel around 95.50 $.
The US dollar index can test the main barrier in the upper limit of the descending channel around $ 98.60, followed by the 50 -day EMA at $ 98.75. A rupture above this crucial resistance zone could strengthen the impulse of medium -term prices and support the DXY to approach to the maximum of two months in $ 99.42, which was reached on June 23.
US dollar index: daily graphics
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. American dollar was the weakest currency against the Swiss Franco.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.22% | -0.12% | 0.01% | -0.09% | -0.18% | -0.21% | -0.42% | |
| EUR | 0.22% | 0.03% | 0.19% | 0.11% | 0.00% | -0.05% | -0.19% | |
| GBP | 0.12% | -0.03% | 0.14% | 0.08% | -0.05% | -0.11% | -0.07% | |
| JPY | -0.01% | -0.19% | -0.14% | -0.12% | -0.18% | -0.27% | -0.34% | |
| CAD | 0.09% | -0.11% | -0.08% | 0.12% | -0.08% | -0.19% | -0.15% | |
| Aud | 0.18% | -0.01% | 0.05% | 0.18% | 0.08% | -0.07% | -0.08% | |
| NZD | 0.21% | 0.05% | 0.11% | 0.27% | 0.19% | 0.07% | 0.04% | |
| CHF | 0.42% | 0.19% | 0.07% | 0.34% | 0.15% | 0.08% | -0.04% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
