US Dollar Index Price Analysis: A drop to 89.50 remains on the cards


  • DXY failed to extend the recent bullish attempt beyond 90.60.
  • The leg lower could re-test the May lows in the mid-89.00s.

DXY navigates without a clear direction in the lower bound of the recent range and following Friday’s post-NFP sell-off.

If the selling impulse picks up extra pace, then a re-test of the 90.00 mark should emerge on the horizon in the near-term. A breach of it should open the door to a deeper retracement to the May’s low near 89.50.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.61 the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price 90.17
Today Daily Change 21
Today Daily Change % 0.04
Today daily open 90.13
 
Trends
Daily SMA20 90.11
Daily SMA50 91.05
Daily SMA100 91.06
Daily SMA200 91.62
 
Levels
Previous Daily High 90.63
Previous Daily Low 90.03
Previous Weekly High 90.63
Previous Weekly Low 89.66
Previous Monthly High 91.44
Previous Monthly Low 89.54
Daily Fibonacci 38.2% 90.26
Daily Fibonacci 61.8% 90.4
Daily Pivot Point S1 89.9
Daily Pivot Point S2 89.66
Daily Pivot Point S3 89.3
Daily Pivot Point R1 90.5
Daily Pivot Point R2 90.86
Daily Pivot Point R3 91.1

 

 

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