US Dollar Index technical analysis: String of dismal data weighs on DXY

10/03/2019 15:25:57 GMT|ByFlavio Tosti

The ISM Non-Manufacturing Index came below expectations at 52.6 in September vs. 55 forecast.
The level to beat for sellers is the 98.63 level.

DXY daily chart

The US Dollar Index (DXY) is an uptrend above its main daily simple moving averages (DSMAs). This Thursday, the US ISM Non-Manufacturing PMI dropped to 52.6 in September vs. 55 expected. This adds to the already negative sentiment on DXY which started on Tuesday after the ISM Manufacturing PMI came in at ten-year low at 47.8 vs. 50.1 forecast while on Wednesday, the ADP, the forerunner of the Nonfarm Payrolls scheduled on Friday, disappointed the market with only 135k vs. 140k expected in September.

DXY four-hour chart

DXY is retracing down as the market is challenging the 100 SMA. A break of 98.63 (current daily low) can expose the 98.30 level.

DXY 30-minute chart

DXY is under pressure below the main SMAs, suggesting a bearish bias in the short term. Immediate resistance is seen at the 98.85 and 99.00 price levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.71
Today Daily Change	-0.32
Today Daily Change %	-0.32
Today daily open	99.03

Trends
Daily SMA20	98.64
Daily SMA50	98.32
Daily SMA100	97.76
Daily SMA200	97.25

Levels
Previous Daily High	99.42
Previous Daily Low	98.96
Previous Weekly High	99.31
Previous Weekly Low	98.29
Previous Monthly High	99.46
Previous Monthly Low	97.99
Daily Fibonacci 38.2%	99.14
Daily Fibonacci 61.8%	99.24
Daily Pivot Point S1	98.85
Daily Pivot Point S2	98.68
Daily Pivot Point S3	98.39
Daily Pivot Point R1	99.31
Daily Pivot Point R2	99.6
Daily Pivot Point R3	99.77

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