• DXY pauses around short-term key support line after two-day downtrend.
  • Bearish MACD, failure to cross 200-SMA favor sellers.
  • 61.8% FE gains market attention below the fortnight-old immediate support.

US dollar index (DXY) fades the late Monday’s corrective pullback around the 90.00 threshold during early Tuesday’s trading. Even so, the greenback gauge versus the major six currencies probes the bears after consecutive two-day declines in the recent past.

Given the bearish MACD and failures to cross the 200-SMA, the US dollar index is likely to break the stated support line, around 89.90.

Though, any further downside will have multiple barriers near 89.70 and 89.50 before the DXY sellers could attack 61.8% Fibonacci Expansion (FE) of April 16 to May 25 downtrend, around 89.20.

Alternatively, further recovery will eye for the 90.30 resistance before confronting the 200-SMA level of 90.41. Also acting as an upside filter is the monthly peak surrounding 90.62.

In a case wherein the DXY buyers refresh the monthly top, the mid-May high near the 91.00 and multiple tops marked since late April surrounding 91.45 will gain the market’s attention.

DXY four-hour chart

Trend: Bearish

Additional important levels

Overview
Today last price 90.01
Today Daily Change 0.02
Today Daily Change % 0.02%
Today daily open 89.99
 
Trends
Daily SMA20 90.1
Daily SMA50 90.99
Daily SMA100 91.05
Daily SMA200 91.61
 
Levels
Previous Daily High 90.3
Previous Daily Low 89.92
Previous Weekly High 90.63
Previous Weekly Low 89.66
Previous Monthly High 91.44
Previous Monthly Low 89.54
Daily Fibonacci 38.2% 90.06
Daily Fibonacci 61.8% 90.15
Daily Pivot Point S1 89.83
Daily Pivot Point S2 89.68
Daily Pivot Point S3 89.45
Daily Pivot Point R1 90.22
Daily Pivot Point R2 90.45
Daily Pivot Point R3 90.61

 

 

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