US Dollar Index Price Forecast: Remains above 98.50 due to possible bullish reversal
Oleh Akhtar Faruqui
Diperbarui: 23 Apr 2026
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The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining firm after two days of gains and trading around 98.60 during the early European hours on Thursday.
- US Dollar Index may test the immediate support at the nine-day EMA of 98.51.
- The 14-day Relative Strength Index at 46.72 sits below 50, signaling subdued momentum.
- The primary barrier lies at the 50-day EMA at 98.82.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining firm after two days of gains and trading around 98.60 during the early European hours on Thursday. The technical analysis of the daily chart shows that the dollar index is positioned slightly above the descending channel, suggesting a potential for a bullish reversal.
However, the near-term bias stays bearish as the US Dollar Index holds below the 50-day Exponential Moving Average (EMA), though trades only marginally above the short-term EMA, offering a fragile platform. Moreover, the 14-day Relative Strength Index (RSI) at 46.72 sits just below the neutral 50 line, hinting at subdued momentum after the recent pullback rather than a decisive recovery.
The immediate support lies at the nine-day EMA of 98.51, aligned with the upper boundary of the descending channel. A return to the channel would reinforce the bearish bias and put downward pressure on the US Dollar Index to test the lower boundary of the channel around 97.00. Further support appears at the 95.56, the lowest since February 2022, which was reached on January 27.
On the upside, the initial barrier lies at the 50-day EMA of 98.82. A sustained break above the medium-term average would support the DXY to explore the region around the 10-month high of 100.64, which was recorded on March 31.
(The technical analysis of this story was written with the help of an AI tool.)
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.01% | 0.07% | 0.10% | -0.02% | 0.12% | 0.29% | 0.02% | |
| EUR | -0.01% | 0.07% | 0.07% | -0.04% | 0.09% | 0.28% | -0.02% | |
| GBP | -0.07% | -0.07% | 0.02% | -0.11% | 0.04% | 0.22% | -0.09% | |
| JPY | -0.10% | -0.07% | -0.02% | -0.13% | 0.02% | 0.17% | -0.10% | |
| CAD | 0.02% | 0.04% | 0.11% | 0.13% | 0.16% | 0.32% | 0.02% | |
| AUD | -0.12% | -0.09% | -0.04% | -0.02% | -0.16% | 0.19% | -0.16% | |
| NZD | -0.29% | -0.28% | -0.22% | -0.17% | -0.32% | -0.19% | -0.32% | |
| CHF | -0.02% | 0.02% | 0.09% | 0.10% | -0.02% | 0.16% | 0.32% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
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