Technical Outlook for the US Dollar Index: Price Below 100 Points—Will U.S. Jobs Data Push It Further Down??

Technically, the price has retraced to the 23.6% Fibonacci level near 98.70, which coincides with a former horizontal support now acting as a short-term equilibrium zone. A sustained break below this level would likely push the index toward 98.00, the 38.2% retracement, followed by the 97.85–97.60 demand zone, which intersects with the moving average, reinforcing its technical significance. On the upside, rebounds face initial resistance at 99.00 and then 99.70, with a break above 99.70 needed to restore positive momentum and theoretically retest 100.00.

The Stochastic oscillator on the four-hour timeframe is near oversold territory, suggesting the possibility of a short-term technical bounce, but it does not confirm a full trend reversal without breaking key resistances. The likely technical scenario is continued movement within the 98.00–99.70 range in upcoming sessions, with a bearish bias as long as trading remains below 99.70. A close below 98.00 would shift the outlook to a deeper negative tone, opening the way to 97.60 and potentially lower.

Support Levels: 98.70 – 98.00 – 97.60

Resistance Levels: 99.00 – 99.70 – 100.00