The U.S. Dollar Index is showing a short-term rebound from the 97.650 support area on the daily timeframe. Price recently tested this level and has since moved higher, suggesting buyers are attempting to defend the lower end of the current range.
From a moving average perspective, DXY remains below both the 50-day SMA and 200-day SMA, which keeps the broader structure somewhat cautious. The 50-day SMA is still positioned above price near the 98.985 area, while the 200-day SMA is close to 98.525. A sustained move back above these averages would improve the technical outlook, but for now they remain potential overhead resistance.
The horizontal resistance around 100.300 continues to stand out as a major upside reference level, with prior price action rejecting near that zone. Until price can reclaim the moving averages and build momentum toward that level, the index remains in a consolidation-to-recovery phase rather than a confirmed uptrend.
Momentum indicators are mixed. MACD remains slightly below the zero line, reflecting that downside momentum has not fully cleared, though the lines are close together and flattening. RSI is near 48, indicating neutral momentum with a slight improvement from recent lows.
Overall, DXY is attempting to form a base above 97.650, but the index still needs stronger confirmation above the 50-day and 200-day SMAs to shift the structure more decisively bullish. For now, the bias appears neutral with early recovery signs.
-MW
From a moving average perspective, DXY remains below both the 50-day SMA and 200-day SMA, which keeps the broader structure somewhat cautious. The 50-day SMA is still positioned above price near the 98.985 area, while the 200-day SMA is close to 98.525. A sustained move back above these averages would improve the technical outlook, but for now they remain potential overhead resistance.
The horizontal resistance around 100.300 continues to stand out as a major upside reference level, with prior price action rejecting near that zone. Until price can reclaim the moving averages and build momentum toward that level, the index remains in a consolidation-to-recovery phase rather than a confirmed uptrend.
Momentum indicators are mixed. MACD remains slightly below the zero line, reflecting that downside momentum has not fully cleared, though the lines are close together and flattening. RSI is near 48, indicating neutral momentum with a slight improvement from recent lows.
Overall, DXY is attempting to form a base above 97.650, but the index still needs stronger confirmation above the 50-day and 200-day SMAs to shift the structure more decisively bullish. For now, the bias appears neutral with early recovery signs.
-MW
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