OctaFX | OctaFX Forex Broker
Open trading account

US Dollar Index Price Analysis: DXY continues climbing, bulls eye the 99.00 figure

  • DXY is up for the fifth consecutive day, trading at its highest since October 2019.
  • Targets on the way up are seen near the 99.00 figure and 99.40 price level.

DXY daily chart

The US dollar index (DXY) is spiking to the upside at fresh 2020 highs while trading above its main simple moving averages (SMAs). 

DXY four-hour chart

As the index is having a strong impulse to the upside, the buyers are likely to keep the pressure on and target the 99.00 figure on the way up. Further up lie the 99.40 resistance if the market gathers enough momentum. Retracements down could find support near the 98.50 and 98.20 price levels. 

Additional key levels


Atlanta Fed's GDPNow drops to 2.7% from 2.9% for first quarter of 2020

The real gross domestic product (GDP) in the United States is expected to expand by 2.7% in the first quarter of 2020, the Federal Reserve Bank of Atl
Read more Previous

USD/JPY steadies near 109.80, looks to add more than 100 pips for the week

The USD/JPY pair is trading in the negative territory on Friday as the sour market mood helps the JPY stay strong against the USD. As of writing, the
Read more Next
Start livechat