US Dollar Index Price Analysis: 50-day EMA, 50% Fibonacci check bears at 8-day low under 99.00


US Dollar Index (DXY) registers six-day losing streak, below 21-day EMA for the first time in two weeks.

Buyers will watch for an upside break of 101.00 to re-enter.

US Dollar Index remains on the back foot while declining to the lowest since March 17, 2020, down 0.50% to 98.90, ahead of the European session open on Friday.

In doing so, the greenback gauge slips below 21-day EMA for the first time in two weeks while nearing the short-term key support confluence comprising 50-day EMA and 50% Fibonacci retracement of March 09-20 upside, near 98.80.

While a sustained break of the short-term EMA disappoints the buyers, confluence of the key Fibonacci and EMA questions the bears.

As a result, the sellers will wait for a clear break of 98.80 for fresh short positions.

On the contrary, the buyers can target 23.6% Fibonacci retracement level of 101.00 if manage to successfully bounce back beyond a 21-day EMA level of 99.50.

DXY daily chart

Trend: Pullback expected

Dollar Index Spot

Overview
Today last price 99.01
Today Daily Change -41 pips
Today Daily Change % -0.41%
Today daily open 99.42
 
Trends
Daily SMA20 98.75
Daily SMA50 98.59
Daily SMA100 98.08
Daily SMA200 97.99
 
Levels
Previous Daily High 101.02
Previous Daily Low 99.24
Previous Weekly High 103
Previous Weekly Low 97.45
Previous Monthly High 99.91
Previous Monthly Low 97.44
Daily Fibonacci 38.2% 99.92
Daily Fibonacci 61.8% 100.34
Daily Pivot Point S1 98.77
Daily Pivot Point S2 98.11
Daily Pivot Point S3 96.99
Daily Pivot Point R1 100.55
Daily Pivot Point R2 101.67
Daily Pivot Point R3 102.33

 

 

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