US Dollar Index price analysis: DXY challenging 200 DMA, remains highly vulnerable to the downside


  • DXY is under heavy pressure below the 97.70 level and the 200 DMA. 
  • The 97.20 support level is on the bears’ radar in the medium term.
 

DXY daily chart

 
DXY (US Dollar Index) is trading in a bull trend as it is challenging the 200-day simple moving average (DMA). However, DXY is becoming increasingly weak and at risk of a selloff.
  

DXY four-hour chart

 
DXY broke below a critical support at the 97.70 level while trading below the main SMAs. At this stage, it seems that it is too late for bulls to intervene as a decline towards the 97.20 support level seems virtually inevitable.
   

DXY 30-minute chart

 
The greenback is under pressure below its main SMAs. Resistance can be seen near the 97.70 and 98.00 levels.
 

Additional key levels

Dollar Index Spot

Overview
Today last price 97.62
Today Daily Change -0.11
Today Daily Change % -0.11
Today daily open 97.73
 
Trends
Daily SMA20 98.12
Daily SMA50 98.19
Daily SMA100 98.15
Daily SMA200 97.65
 
Levels
Previous Daily High 97.94
Previous Daily Low 97.64
Previous Weekly High 98.54
Previous Weekly Low 98.17
Previous Monthly High 98.54
Previous Monthly Low 97.16
Daily Fibonacci 38.2% 97.75
Daily Fibonacci 61.8% 97.83
Daily Pivot Point S1 97.6
Daily Pivot Point S2 97.47
Daily Pivot Point S3 97.3
Daily Pivot Point R1 97.9
Daily Pivot Point R2 98.07
Daily Pivot Point R3 98.2

 

 

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