US Dollar Index Technical Analysis: DXY bears pressuring daily lows near 97.50 level

DXY daily chart

• The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs).
• On Monday, DXY initially appreciated on the back of US-China trade talk tensions, however, the bulls failed to sustain the rebound and the index is about to end the day on its lows near 97.50.

DXY 4-hour chart

• Bulls tried to reverse Friday’s losses but bears are keeping the pressure below 97.70 and the 50 SMA.

DXY 30-minute chart

• Bears are currently trying to break an important support level at 97.50.
• A break below the support can open the gates to 97.20 and 97.00 level to the downside.
• Immediate resistance is seen at 97.70 followed by 97.90 level.

Additional key levels