US Dollar Index technical analysis: DXY sees a modest recovery this Monday

• DXY ticked up slightly this Monday as the risk off mode eased slightly with encouraging words from Pesident Trump about the trade war.
• Will the bulls be able to reconquer 98.10 to the upside?

DXY daily chart

The US Dollar Index (DXY) is evolving in a bull trend above its main simple moving averages (SMAs). DXY recouped some of the lost ground in the last two days of trading.

DXY 4-hour chart

The greenback is having a small rebound from near the 97.50 level and the 200 SMA.

DXY 30-minute chart

DXY is challenging the 97.80 resistance and the 100 SMA. A break above this resistance can lead to 97.90 which is the last bastion for a full recovery towards 98.10. To the downside 97.50 and 97.30 can continue to be bearish targets in the coming sessions if the 97.90 resistance holds.

Additional key levels