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US dollar index Asia Price Forecast: DXY loses steam, trades sub-99.00 figure

US dollar index (DXY) slides down and breaks the 99.00 level.
The level to beat for sellers is the 98.30 support.

Flavio Tosti Independent Analyst

DXY daily chart

DXY is down in 2.5-week lows as the market is retreating. However, it is still holding above the 100/200 SMAs on the daily time-frame but trading below the 50 SMA, suggesting a mixed picture.

DXY four-hour chart

DXY broke below the 99.00 level and the 200 SMA on the four-hour chart suggesting a negative bias in the medium term. Bears seem to be back in control and a decline towards the 98.30 price level can be in the offing. Further down lie the 97.50 and 96.70 price levels if the bears gather enough strength. Immediate resistance can emerge near 99.00 followed by the 99.36 level.

Additional key levels

Dollar Index Spot

Overview
Today last price	98.88
Today Daily Change	-0.62
Today Daily Change %	-0.62
Today daily open	99.5

Trends
Daily SMA20	100.3
Daily SMA50	99.05
Daily SMA100	98.27
Daily SMA200	98.18

Levels
Previous Daily High	99.63
Previous Daily Low	99.14
Previous Weekly High	100.93
Previous Weekly Low	99.36
Previous Monthly High	103
Previous Monthly Low	94.63
Daily Fibonacci 38.2%	99.33
Daily Fibonacci 61.8%	99.44
Daily Pivot Point S1	99.22
Daily Pivot Point S2	98.93
Daily Pivot Point S3	98.73
Daily Pivot Point R1	99.71
Daily Pivot Point R2	99.92
Daily Pivot Point R3	100.2

Author

Flavio Tosti

Independent Analyst

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