US Dollar Index Price Analysis: A breach of 94.00 could expose 93.70

DXY extends the decline and challenges the 94.00 mark.
Next on the downside emerges 93.66 (September 9 top).

Pablo Piovano FXStreet

The bearish note in the greenback picks up pace in the first half of the week and forces DXY to put the 94.00 mark to the test.

A clear breakdown of the 94.00 neighbourhood could pave the way for a move to the September 9 peak near 93.70 ahead of the 55-day SMA, today at 93.55.

While below the 200-day SMA, today at 97.07, the outlook on the dollar is forecasted to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	94.08
Today Daily Change	28
Today Daily Change %	-0.20
Today daily open	94.27

Trends
Daily SMA20	93.36
Daily SMA50	93.35
Daily SMA100	95.49
Daily SMA200	97.09

Levels
Previous Daily High	94.64
Previous Daily Low	94.15
Previous Weekly High	94.74
Previous Weekly Low	92.75
Previous Monthly High	94
Previous Monthly Low	92
Daily Fibonacci 38.2%	94.34
Daily Fibonacci 61.8%	94.45
Daily Pivot Point S1	94.07
Daily Pivot Point S2	93.87
Daily Pivot Point S3	93.58
Daily Pivot Point R1	94.55
Daily Pivot Point R2	94.84
Daily Pivot Point R3	95.04

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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