US Dollar Index Asia Price Forecast: DXY bearish correction from 2020 top intact

DXY is in retracement mode for the fourth consecutive day.
The level to beat for sellers is the 99.00 figure.

Flavio Tosti Independent Analyst

DXY daily chart

The US dollar index (DXY) is pulling back down below the 2019 high at 99.67 level. The risk-off mode and the all-time low in US bond-yields are weighing on DXY.

DXY four-hour chart

The greenback is trading near its lowest in seven days while challenging the 100 SMA on the four-hour chart. The current weakness is probably going to lead to further losses, especially on a break below the 99.00 figure en route towards the 98.80 and 98.40 price levels. DXY is expected to meet resistance on any run to 99.20 or 99.40 level.

Additional key levels

Dollar Index Spot

Overview
Today last price	99.28
Today Daily Change	0.30
Today Daily Change %	0.30
Today daily open	98.98

Trends
Daily SMA20	98.75
Daily SMA50	97.91
Daily SMA100	97.88
Daily SMA200	97.84

Levels
Previous Daily High	99.39
Previous Daily Low	98.88
Previous Weekly High	99.91
Previous Weekly Low	99.04
Previous Monthly High	98.19
Previous Monthly Low	96.42
Daily Fibonacci 38.2%	99.07
Daily Fibonacci 61.8%	99.2
Daily Pivot Point S1	98.78
Daily Pivot Point S2	98.57
Daily Pivot Point S3	98.27
Daily Pivot Point R1	99.29
Daily Pivot Point R2	99.59
Daily Pivot Point R3	99.8

Author

Flavio Tosti

Independent Analyst

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