US Dollar Index Price Analysis: Downside could extend further

  • The index meets a formidable hurdle in the 97.60 region.
  • The loss of the 97.00 support could accelerate losses.

The index keeps correcting lower following another rejection of 2020 highs in the 97.60 zone, where also converges the 55-day SMA.

DXY is flirting with both the 10-day and 21-day SMAs and remains vulnerable to further downside.

That said, the next significant support emerges at the 97.00 mark. A breakdown of this level carries the potential to spark another visit to lows near 96.30 (late December).

DXY daily chart

Dollar Index Spot

Today last price 97.14
Today Daily Change 13
Today Daily Change % -0.08
Today daily open 97.22
Daily SMA20 97.2
Daily SMA50 97.59
Daily SMA100 97.96
Daily SMA200 97.72
Previous Daily High 97.44
Previous Daily Low 97.16
Previous Weekly High 97.58
Previous Weekly Low 96.54
Previous Monthly High 98.38
Previous Monthly Low 96.35
Daily Fibonacci 38.2% 97.27
Daily Fibonacci 61.8% 97.33
Daily Pivot Point S1 97.11
Daily Pivot Point S2 96.99
Daily Pivot Point S3 96.83
Daily Pivot Point R1 97.39
Daily Pivot Point R2 97.55
Daily Pivot Point R3 97.67



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD trims intraday gains returns to mid-1.17

The EUR/USD pair retreated after flirting with the 1.1800 figure, as the market mood somehow turned sour. Focus on the next US fiscal relief package, coronavirus, and economic progress.


GBP/USD bounces off the lows amid market calm

GBP/USD is trading closer to 1.31 as investors are hopeful for progress in Brexit talks and are less concerned about a lockdown in London. The US dollar is giving some ground.


XAU/USD bull-bear tug-of-war extends around $1975

XAU/USD sidelined heading into the European session. Downside limited by dollar weakness, coronavirus concerns. Focus remains on the USD dynamics and the United States/China updates.

Gold News

What you need to know about trading in August

The generally received wisdom is that summer is a quiet month for trading. Traders are on holiday and markets quieten down. That’s the expectation among many. However, the reality is that August can be one of the most volatile trading months of the year.

Read more

WTI: Bulls await API data to attack $41.00

WTI struggles to extend recovery moves from $40.74 beyond $41.00. Virus woes join OPEC output increase to combat drop in Russian oil production. US Factory Orders, API inventories will be the key.

Oil News