US Dollar Index Price Analysis: Corrective decline could reach 90.00

The upside in DXY lost momentum below the 91.00 yardstick.
The ongoing leg lower could extend to the 90.00 neighbourhood.

Pablo Piovano FXStreet

DXY met a tough resistance in the area just below 91.00 the figure earlier in the week, sparking the current knee-jerk afterwards.

The continuation of this pullback carries the potential to revisit the area of weekly lows around the key 90.00 support in the short-term horizon.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.85, the outlook for the buck is forecast to remain negative.

DXY daily chart

Dollar Index Spot

Overview
Today last price	90.45
Today Daily Change	38
Today Daily Change %	-0.31
Today daily open	90.73

Trends
Daily SMA20	90.9
Daily SMA50	91.69
Daily SMA100	91.06
Daily SMA200	91.87

Levels
Previous Daily High	90.91
Previous Daily Low	90.59
Previous Weekly High	91.44
Previous Weekly Low	90.19
Previous Monthly High	93.33
Previous Monthly Low	90.42
Daily Fibonacci 38.2%	90.71
Daily Fibonacci 61.8%	90.79
Daily Pivot Point S1	90.57
Daily Pivot Point S2	90.42
Daily Pivot Point S3	90.25
Daily Pivot Point R1	90.9
Daily Pivot Point R2	91.07
Daily Pivot Point R3	91.22

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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