US Dollar Index Price Analysis: Another leg lower could test the 2022 low


  • DXY struggles to gain convincing upside traction above 95.00.
  • Another leg lower could re-visit the YTD low near 94.60.

Friday’s bounce in DXY meets initial resistance near 95.60 at the beginning of the week.

Another bout of weakness could prompt the index to retest the so far monthly low at 95.13 (February 4). If cleared with certain conviction, then a move to the 2022 low at 94.62 (January 14) could start to emerge on the short-term horizon.

In the near term, the 5-month line near 95.10 is expected to hold the downside for the time being. Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.50.

DXY daily chart

Dollar Index Spot

Overview
Today last price 95.45
Today Daily Change 22
Today Daily Change % 0.01
Today daily open 95.44
 
Trends
Daily SMA20 95.85
Daily SMA50 96.04
Daily SMA100 95.22
Daily SMA200 93.51
 
Levels
Previous Daily High 95.7
Previous Daily Low 95.14
Previous Weekly High 97.26
Previous Weekly Low 95.14
Previous Monthly High 97.44
Previous Monthly Low 94.63
Daily Fibonacci 38.2% 95.49
Daily Fibonacci 61.8% 95.35
Daily Pivot Point S1 95.15
Daily Pivot Point S2 94.86
Daily Pivot Point S3 94.59
Daily Pivot Point R1 95.72
Daily Pivot Point R2 95.99
Daily Pivot Point R3 96.28

 

 

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