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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.

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 price99.15
Today Daily Change33
Today Daily Change %-0.03
Today daily open99.18
 
Trends
Daily SMA2099.84
Daily SMA5099.91
Daily SMA10098.9
Daily SMA20098.48
 
Levels
Previous Daily High99.56
Previous Daily Low99
Previous Weekly High100.56
Previous Weekly Low99.56
Previous Monthly High100.93
Previous Monthly Low98.81
Daily Fibonacci 38.2%99.22
Daily Fibonacci 61.8%99.35
Daily Pivot Point S198.94
Daily Pivot Point S298.69
Daily Pivot Point S398.38
Daily Pivot Point R199.49
Daily Pivot Point R299.8
Daily Pivot Point R3100.05

Author

Pablo Piovano

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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