US Dollar Index Price Forecast: Eyes symmetrical triangle top at 102.50
- United States Dollar Index may test the upper boundary of the symmetrical triangle around 102.50.
- The 14-day Relative Strength Index around 58 suggests steady upside momentum.
- The initial support lies at the nine-day EMA of 102.01.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground for the second successive day and trading near 102.40 during the European hours on Wednesday.
The near-term tone remains bullish as the DXY holds above both the nine- and 50-period Exponential Moving Averages (EMAs), keeping the short- and medium-term trend underpinned. The 14-day Relative Strength Index (RSI) around 58 sits in positive but non-extreme territory, suggesting steady upside momentum rather than an overextended rally.
The technical analysis of the daily chart indicates that the dollar index is remaining within the symmetrical triangle pattern, signaling a period of consolidation before the price breaks out or breaks down.
The DXY may test the upper boundary of the symmetrical triangle around 102.50, followed by the 19-month high of 102.94, reached on October 14.
On the downside, the US Dollar Index may find its primary support at the nine-day EMA of 102.01, followed by the 50-day EMA of 101.41 and the lower boundary of the symmetrical triangle around 101.20. A break below this confluence support zone would cause the bearish bias and put downward pressure on the dollar index to navigate the region around a nearly six-month low of 98.56, which was recorded on August 20.
Goolsbee flags ‘real inflation issue’, lifting hawkish Fed tone and supporting the Dollar
Fed’s Goolsbee delivered a notably more hawkish tone, with an FXS Speechtracker score of 8/10 compared to the established baseline of 6.8/10, underscoring rising concern about persistent price pressures. The emphasis that the latest CPI was “borderline disturbing,” that services inflation is “not coming down,” and that there is “a real inflation issue” that the Fed is “going to have to deal with” signals a lower tolerance for upside inflation surprises and keeps the bar high for any near-term policy easing. References to overheating prices across “a whole bunch of things,” alongside a “steady and stable” job market and the warning that inflation becoming embedded in expectations would be a “major concern,” reinforce a bias toward maintaining or even tightening restrictive policy, a mix that is typically supportive for the Dollar and a headwind for risk-sensitive FX.
The FXS Fed Sentiment Index rose by 1.69 points to 145.61, firmly in hawkish territory and consistent with the elevated FXS Speechtracker score. This move higher in the FXS Fed Sentiment Index signals that markets should treat Goolsbee’s remarks as incrementally hawkish for the Fed reaction function, skewing risks toward tighter-for-longer policy expectations.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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 Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.08% | 0.09% | 0.03% | 0.15% | -0.09% | 0.07% | 0.26% | |
| EUR | -0.08% | 0.02% | -0.04% | 0.07% | -0.18% | -0.01% | 0.18% | |
| GBP | -0.09% | -0.02% | -0.06% | 0.06% | -0.19% | -0.03% | 0.16% | |
| JPY | -0.03% | 0.04% | 0.06% | 0.12% | -0.13% | 0.03% | 0.22% | |
| CAD | -0.15% | -0.07% | -0.06% | -0.12% | -0.24% | -0.09% | 0.11% | |
| AUD | 0.09% | 0.18% | 0.19% | 0.13% | 0.24% | 0.17% | 0.35% | |
| NZD | -0.07% | 0.01% | 0.03% | -0.03% | 0.09% | -0.17% | 0.20% | |
| CHF | -0.26% | -0.18% | -0.16% | -0.22% | -0.11% | -0.35% | -0.20% |
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).
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
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