US Dollar Index Price Analysis: Decent contention emerged around 95.80

DXY extends the corrective downside to 96.20.
Next on the downside emerges the 96.00 zone.

Pablo Piovano FXStreet

DXY manages to reverse three consecutive daily losses and regains the 96.00 barrier and above on Thursday.

So far, the corrective move in the index met support in the 95.80 zone. If sellers regain the upper hand, then the retracement could extend further and retest the weekly low at 95.41 (January 20). The resumption of the upside bias should meet the next hurdle at the YTD peak at 97.80 (January 28).

In the near term, the upside pressure remains intact while above the 4-month line just below 95.00. Looking at the broader picture, the longer-term positive stance in the dollar remains unchanged above the 200-day SMA at 93.40.

DXY daily chart

Dollar Index Spot

Overview
Today last price	96.22
Today Daily Change	27
Today Daily Change %	0.24
Today daily open	95.99

Trends
Daily SMA20	95.92
Daily SMA50	96.08
Daily SMA100	95.17
Daily SMA200	93.47

Levels
Previous Daily High	96.3
Previous Daily Low	95.8
Previous Weekly High	97.44
Previous Weekly Low	95.67
Previous Monthly High	97.44
Previous Monthly Low	94.63
Daily Fibonacci 38.2%	95.99
Daily Fibonacci 61.8%	96.11
Daily Pivot Point S1	95.75
Daily Pivot Point S2	95.52
Daily Pivot Point S3	95.25
Daily Pivot Point R1	96.26
Daily Pivot Point R2	96.53
Daily Pivot Point R3	96.76

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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