US Dollar Index Price Analysis: DXY closes below the 2019 high, retraces from 2020 top

DXY erased the last two days of gains as the market is pulling back down from 2020 highs.
Sellers are expecting a deeper retracement below the 99.20 support level.

Flavio Tosti Independent Analyst

DXY daily chart

The US dollar index (DXY) is pulling back down, on track to close below the 2019 high at 99.67 level. DXY erased the gains of the last two days this Friday.

DXY four-hour chart

DXY fell sharply and tested the 50 SMA. The trend remains bullish however a deeper pullback cannot be ruled out. Bears can try to break below the 99.20 support and generate an extention down towards the 99.00 and 98.80 support level. A resumption of bullish movements can find resistance near the 99.40 and 99.65 levels.

Additional key levels

Dollar Index Spot

Overview
Today last price	99.33
Today Daily Change	-0.56
Today Daily Change %	-0.56
Today daily open	99.89

Trends
Daily SMA20	98.56
Daily SMA50	97.79
Daily SMA100	97.87
Daily SMA200	97.82

Levels
Previous Daily High	99.91
Previous Daily Low	99.53
Previous Weekly High	99.16
Previous Weekly Low	98.6
Previous Monthly High	98.19
Previous Monthly Low	96.42
Daily Fibonacci 38.2%	99.76
Daily Fibonacci 61.8%	99.68
Daily Pivot Point S1	99.64
Daily Pivot Point S2	99.4
Daily Pivot Point S3	99.26
Daily Pivot Point R1	100.02
Daily Pivot Point R2	100.16
Daily Pivot Point R3	100.4

Author

Flavio Tosti

Independent Analyst

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