US Dollar Index Price Analysis: Corrective decline temporary only

  • DXY gives away part of the recent gains, back near 96.70.
  • Further upside is seen testing the 97.00 yardstick.

DXY corrects lower after hitting new cycle peaks in the area just below the 97.00 yardstick on Wednesday.

The continuation of the uptrend looks the most likely scenario despite the ongoing and temporary knee-jerk. That said, the round level at 97.00 now emerges as the immediate target for dollar bulls ahead of 97.80 (June 30 2020).

In the meantime, while above the 2-month support line (off September’s low) just below 94.00, extra gains in DXY remain well on the table. The broader constructive stance remains underpinned by the 200-day SMA at 92.38.

DXY daily chart

Dollar Index Spot

Today last price 96.71
Today Daily Change 15
Today Daily Change % -0.14
Today daily open 96.85
Daily SMA20 94.98
Daily SMA50 94.27
Daily SMA100 93.45
Daily SMA200 92.36
Previous Daily High 96.94
Previous Daily Low 96.43
Previous Weekly High 96.25
Previous Weekly Low 94.97
Previous Monthly High 94.56
Previous Monthly Low 93.28
Daily Fibonacci 38.2% 96.75
Daily Fibonacci 61.8% 96.63
Daily Pivot Point S1 96.54
Daily Pivot Point S2 96.23
Daily Pivot Point S3 96.03
Daily Pivot Point R1 97.05
Daily Pivot Point R2 97.25
Daily Pivot Point R3 97.56



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