US Dollar Index Price Analysis: Downside could extend to 98.57

DXY failed in the vicinity of the interim hurdle at 100.49.
Immediately to the downside emerges the monthly low at 98.57.

Pablo Piovano FXStreet

DXY is extending the corrective downside to the area below the 100.00 mark following an unsuccessful attempt of breaking above the interim hurdle at the Fibo retracement at 100.49 on Thursday.

In the very near-term, and while sellers keep ruling the sentiment, the index could recede further and visit the area of 2-month lows in the 98.60/55 band (May 4).

Further out, the 200-day SMA in the 98.35/40 band is expected to hold the downside in the short-term horizon.

DXY daily chart

Dollar Index Spot

Overview
Today last price	99.74
Today Daily Change	25
Today Daily Change %	-0.09
Today daily open	99.83

Trends
Daily SMA20	99.77
Daily SMA50	99.35
Daily SMA100	98.66
Daily SMA200	98.38

Levels
Previous Daily High	100.4
Previous Daily Low	99.81
Previous Weekly High	100.32
Previous Weekly Low	98.77
Previous Monthly High	100.93
Previous Monthly Low	98.81
Daily Fibonacci 38.2%	100.04
Daily Fibonacci 61.8%	100.18
Daily Pivot Point S1	99.63
Daily Pivot Point S2	99.42
Daily Pivot Point S3	99.03
Daily Pivot Point R1	100.22
Daily Pivot Point R2	100.61
Daily Pivot Point R3	100.81

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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