US Dollar Index Price Analysis: 2020 and the US dollar, more losses to come?

DXY is about to end the year virtually unchanged a handfull of pips up compared to 12 months ago.
The level to beat for sellers is the 96.70 support.

Flavio Tosti Independent Analyst

DXY weekly chart

DXY (US Dollar Index) is about to end the year a handful of pips from where it started at 96.36 in January 2019.

DXY daily chart

The greenback is trading at its lowest level since July while below the critical 200-day simple moving average (DMA). If the bulls fail to reclaim the 98.00 handle, 2020 is likely to be a down year for the greenback.

DXY four-hour chart

The market is pressuring the December lows while below the main SMAs. A daily close below 96.70 could lead to further losses towards 96.50, 96.25 and the 96.00 handle. On the flip side, resistance can be located at 97.00, 97.20 and the 97.55 level.

Additional key level

Dollar Index Spot

Overview
Today last price	96.69
Today Daily Change	-0.32
Today Daily Change %	-0.33
Today daily open	97.01

Trends
Daily SMA20	97.47
Daily SMA50	97.74
Daily SMA100	98.1
Daily SMA200	97.72

Levels
Previous Daily High	97.57
Previous Daily Low	96.92
Previous Weekly High	97.82
Previous Weekly Low	96.92
Previous Monthly High	98.54
Previous Monthly Low	97.16
Daily Fibonacci 38.2%	97.17
Daily Fibonacci 61.8%	97.32
Daily Pivot Point S1	96.76
Daily Pivot Point S2	96.52
Daily Pivot Point S3	96.11
Daily Pivot Point R1	97.41
Daily Pivot Point R2	97.82
Daily Pivot Point R3	98.06

Author

Flavio Tosti

Independent Analyst

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