US Dollar Index Price Analysis: Door open to further retracements

DXY keeps the bearish note unchanged so far this week.
Odds for a move to the 200-day SMA near 98.50 stay on the rise.

Pablo Piovano FXStreet

DXY is extending the weekly leg lower after recently breaking below the 100.00 mark.

Interim support emerged at weekly lows in the 99.00 zone (Wednesday). If sellers clear this level then a potential move to the monthly low at 98.57 should come to the fore in the very near-term.

A deeper pullback is expected to put the key 200-day SMA at 98.47 to the test.

DXY daily chart

Dollar Index Spot

Overview
Today last price	99.15
Today Daily Change	33
Today Daily Change %	-0.03
Today daily open	99.18

Trends
Daily SMA20	99.84
Daily SMA50	99.91
Daily SMA100	98.9
Daily SMA200	98.48

Levels
Previous Daily High	99.56
Previous Daily Low	99
Previous Weekly High	100.56
Previous Weekly Low	99.56
Previous Monthly High	100.93
Previous Monthly Low	98.81
Daily Fibonacci 38.2%	99.22
Daily Fibonacci 61.8%	99.35
Daily Pivot Point S1	98.94
Daily Pivot Point S2	98.69
Daily Pivot Point S3	98.38
Daily Pivot Point R1	99.49
Daily Pivot Point R2	99.8
Daily Pivot Point R3	100.05

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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