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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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