US Dollar Index technical analysis: Dismal ISM Manufacturing PMI weighs on the Greenback

10/01/2019 17:12:08 GMT|ByFlavio Tosti

ISM Manufacturing PMI drops to 10-year lows and the Greenback fell.
DXY is retracing from a new 2019 high towards the 99.00 handle.

DXY daily chart

The US Dollar Index (DXY) is trading a bull trend above its main daily simple moving averages (DSMAs). The market almost hit the 2019 high at 99.38 before retreating slightly. In the New York session, the ISM Manufacturing PMI came in below expectations at 47.8 vs. 50.1 forecast. This was the worst reading since 2009 and sent the index lower.

DXY four-hour chart

DXY is pulling back down after hitting a new 2019 high at 99.67. The market is retracing potentially towards the 99.00 and 98.85 support area. A break below 98.85 can expose 98.30 on the way down.

DXY 30-minute chart

DXY is challenging the 200 SMA, suggesting a neutral/bearish bias in the short term. Immediate resistance is seen at the 99.30 price level.

Additional key levels

Dollar Index Spot

Overview
Today last price	99.1
Today Daily Change	-0.29
Today Daily Change %	-0.29
Today daily open	99.39

Trends
Daily SMA20	98.6
Daily SMA50	98.27
Daily SMA100	97.73
Daily SMA200	97.23

Levels
Previous Daily High	99.46
Previous Daily Low	99.05
Previous Weekly High	99.31
Previous Weekly Low	98.29
Previous Monthly High	99.46
Previous Monthly Low	97.99
Daily Fibonacci 38.2%	99.3
Daily Fibonacci 61.8%	99.21
Daily Pivot Point S1	99.14
Daily Pivot Point S2	98.89
Daily Pivot Point S3	98.73
Daily Pivot Point R1	99.55
Daily Pivot Point R2	99.71
Daily Pivot Point R3	99.96

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