USD Majors, Gold, and Bitcoin Technical Outlook: Support and Resistance Levels in Focus

The US Dollar Index (DXY) is testing confluent support at the August high-day close and May low at 98.68/69, according to technical analysis from FOREX.com.

A break below this slope would be needed to mark downtrend resumption with key support objectives eyed at the yearly open at 98.24 and the 61.8% retracement of the yearly range at 97.94.

In contrast, initial resistance is eyed at the 200-day moving average near ~98.17, backed by the 38.2% retracement / January high at 99.41/49.

Meanwhile, gold has broken out of its yearly downtrend with a rally extending more than 18.7% off the yearly low, and is now trading within the confines of a proposed ascending pitchfork extending off the August low.